31 Dec '13, 11pm

Textron Buys Beechcraft in Industry Shakeup

Textron Buys Beechcraft in Industry Shakeup

Textron Buys Beechcraft in Industry Shakeup By Brendan McGarry Tuesday, December 31st, 2013 6:44 pm Posted in Sequestration Textron Inc., maker of Cessna airplanes and Bell helicopters, is buying Beechcraft Corp. in a deal that may signal the start of more consolidation within the U.S. defense industry. Providence, R.I.-based Textron, whose business segments include Cessna and Bell Helicopter, which helps make the military’s V-22 Osprey tilt-rotor aircraft, announced the $1.4 billion acquisition last week. The Wichita, Kan.-based Beechcraft, owned by Beech Holdings LLC, manufactures Hawker business jets, King Air turboprops and the military’s T-6 trainer, among other aircraft. “The acquisition of Beechcraft is a tremendous opportunity to extend our general aviation business,” Textron Chief Executive Officer Scott Donnelly said in a statement . “The iconic King Air product ...

Full article: http://www.dodbuzz.com/2013/12/31/textron-buys-beechcraft...

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