17 March 2014
Textron Inc, owners of Cessna, has announced it has completed its acquisition of Beechcraft Corporation, and that it will bring together its Cessna business and Beechcraft to form a new segment called Textron Aviation.
The separate Cessna, Beechcraft and Hawker brand names – and support infrastructure – will remain following completion of the $1.4bn purchase. Cessna CEO Scott Ernest will lead the new division.
Textron CEO Scott Donnelly has told sources that there would be reductions in the administrative and support staff of the newly combined companies, although the full impact on the company’s workforce is not yet known.
In a statement from the newly formed division, Scott Ernest said, “The iconic Beechcraft, Cessna and Hawker brands will remain distinct within Textron Aviation to preserve their rich histories and respective strengths in the marketplace,” adding “Uniting these brands creates a robust industry competitor. Cessna, Beechcraft and Hawker owners will receive the high level of quality product and customer service that are the hallmarks of these brands.”
<a href=’http://textron.com’ target=’_blank’>textron.com</a>
