Transition teams handling Beechcraft sale details
Associated Press - January 19, 2014 12:34 pm
The sale of Beechcraft to Cessna Aircraft’s parent company, Textron, is expected to close in the first half of this year, pending government approvals.
The Wichita Eagle reported two transition teams for each company have been formed to work out the details. Those details include such things as employment levels, production sites and reduction of costs.
Also formed is a steering committee composed of Beechcraft CEO Bill Boisture, Textron CEO Scott Donnelly and Cessna CEO Scott Ernest.
The companies announced last month that Textron had finalized a deal to buy Beechcraft for about $1.4 billion.
Boisture says the necessary paperwork for regulatory approval has been filed.