Friday, March 14, 2014

Textron, Beechcraft deal closes

PROVIDENCE, R.I. -- Textron Inc. today announced it has closed its acquisition of Beech Holdings LLC, parent of Beechcraft Corp. It will bring together its Textron's Cessna business and Beechcraft to form a new segment called Textron Aviation. Cessna and Beechcraft together produced about $4.6 billion in revenues during 2013. The acquisition brings together Cessna, Beechcraft and Hawker, with a combined customer base of more than 250,000 airplanes worldwide. (Source: Business Wire, 03/14/14) Previous