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Textron to buy Beechcraft for $1.4 billion

Dec. 30, 2013 - 03:45AM   |  
By JACK WITTMAN   |   Comments
The Army's planned Enhanced Medium Altitude Reconnaissance and Surveillance System is based on the Beechcraft King Air 350ER. (Army)
The Army's planned Enhanced Medium Altitude Reconnaissance and Surveillance System is based on the Beechcraft King Air 350ER. (Army) ()
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Textron Inc. plans to acquire military and civil aircraft manufacturer Beechcraft Corp. for approximately $1.4 billion.

Textron announced Dec. 27 that it had reached an agreement to purchase all outstanding equity interests in Beech Holdings LLC, the parent of Beechcraft.

Beechcraft’s products include business, special mission, light attack and trainer aircraft. The company’s King Air 350 turboprops were fitted with video and signals intelligence sensors to form the fleet of MC-12 Liberty aircraft that saw service in Iraq and Afghanistan. The King Air 350ER is also the platform for the Army’s Enhanced Medium Altitude Reconnaissance and Surveillance System. An engineering, manufacturing and development EMARSS aircraft made its first flight earlier this year. The Boeing-led EMARSS program is intended to provide the Army with the ability to detect, locate, classify, identify and track surface targets in nearly all weather conditions, day or night.

Beechcraft had estimated 2013 revenues of $1.8 billion.

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