The parent company of Cessna Aircraft has reached an agreement to buy Beechcraft Corporation for approximately $1.4 billion dollars.
Providence, Rhode Island-based Textron Incorporated announced the agreement on Thursday.
The purchase will bring two mainstays of Wichita's general aviation industry under a single corporate leadership.
Textron chairman and CEO Scott Donnelly said in a statement that the Beechcraft acquisition is a "tremendous opportunity" for the diversified corporation to expand its general aviation business.
The 2013 legislative session starts today; Secretary of State Kobach says business start-ups in Kansas area healthy; Homeless children in Wichita schools tops 1,800.
2013 Legislative Session To Commence
Monday marks the start of the 2013 legislative session. This could be one of the most significant sessions in years.
Kobach Says Business Startups 'Healthy'