Wichita Leaders Hopeful About Beechcraft Merger
Civic leaders in Wichita are expressing optimism following the sale of one of the community's linchpin aviation companies to a competitor.
Textron Inc. announced late Thursday that it will pay $1.4 billion to purchase Wichita-based Beechcraft Corp. The deal is expected to close around the middle of 2014.
What the deal will mean for Beechcraft's 3,300 Wichita employees, isn't yet clear. Textron officials say a transition team hasn't formed so it's too early to speculate about things like job cuts.
Wichita State economist Jeremy Hill says both companies are already lean, so he doesn't expect a lot of job cuts.
Mayor Carl Brewer and the city council say they expect the merger will have a positive impact on the businesses and the community.