March 15, 2014 - Textron Inc. announced it has
closed its acquisition of Beech Holdings, LLC,
the parent of Beechcraft Corporation, and that
it will bring together its 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 three iconic
brands, each pioneering many of general
aviation’s most notable advances in the past
century. Cessna, Beechcraft and Hawker bring
200-plus years of combined aviation experience
to the market and an installed customer base of
more than 250,000 airplanes worldwide.
Going forward, Textron Aviation intends to share
and leverage best practices across all
operations to further its position as an
aviation authority. Scott Ernest, who has served
as Cessna’s President and CEO since 2011, will
lead the Textron Aviation segment as CEO.
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