Beechcraft

Beechcraft: The announcement by Providence, R.I.-based Textron caps a year that saw Beechcraft emerge from bankruptcy largely freed from debt and its unprofitable Hawker business jet operations, which it stopped making to focus on turboprop and piston aircraft as well as trainers and light attack planes for the military, according to Times Colonist. "The acquisition of Beechcraft is a tremendous opportunity to extend our general aviation business," Textron chairman and CEO Scott C. Donnelly said. "From our customers' perspective, this creates a broader selection of aircraft and a larger service footprint all sharing the same high standards of quality and innovation." WICHITA, Kan. - Cessna Aircraft parent company Textron Inc. said Thursday it will buy Beechcraft Corp. for approximately $1.4 billion, a deal that would combine two mainstays of Wichita's general aviation industry. Textron said it expects to complete the acquisition early next year. (www.immigrantscanada.com). As reported in the news.