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Briefing February 2014 Issue

Briefing: February 2014

Textron Buys Beechcraft

After weeks of speculation, Textron announced in late December that it would buy Beechcraft Corp., for $1.4 billion. Textron is the parent company of Cessna, Bell Helicopter, and Lycoming. “The acquisition of Beechcraft is a tremendous opportunity to extend our general aviation business,” said Textron CEO Scott Donnelly. Textron also will take on the profitable service business for Hawker’s orphaned jet line, creating opportunities to convert those owners, as well as pilots upgrading from the popular King Air turboprops, to Cessna jets.

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