Friday, December 27, 2013
Textron, Beechcraft deal reached
Cessna parent Textron reached an agreement to buy Beech Holdings LLC, parent of Beechcraft Corp., for $1.4 billion. Textron is based in Providence, R.I., and Beechcraft in Wichita, Kan. Adding Beechcraft models such as the twin-engine King Air will complement a Cessna lineup that ranges from two-seaters to the Caravan turboprop used to fly people and cargo to small airports. Beechcraft manufactures business, special mission, light attack and trainer aircraft. The transaction is expected to close during the first half of next year, subject to regulatory approvals. (Sources: Business Wire, Bloomberg, 12/26/13) Gulf Coast note: Textron owns Texas-based Bell Helicopter, which said this month it will build a new line of helicopters in Lafayette, La. (post); Textron Marine and Land Systems has a plant in New Orleans.