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Mon, Dec 16, 2013

Beechcraft Hopes To Close Sale Of Jet Business By Year's End

Company Says It Is In 'Final Stages' Of Negotiations

Beechcraft says it is in the "final stages" of negotiations with a buyer for its Hawker 4000 and Premier business jet assets, and officials say they are hopeful a deal can be closed by the end of the year.

Beechcraft CEO Bill Boisture (pictured) said that attorneys for the two parties are reviewing the legal documents "to get agreement of a last few key points" according to a report in the Wichita Eagle.

The sale would include Beechcraft's Plant 3 facility in Wichita, which the unnamed buyer reportedly plans to use for composite component manufacturing rather that full airplane assembly. Boisture said he does not think that building airplanes is in the buyer's long-range plans.

The assets are being sold as part of Beechcraft's restructuring under Chapter 11. Hawker Beechcraft emerged from bankruptcy in February as Beechcraft Corporation, with a focus on piston, turboprop, and military airplanes along with aftermarket support.

FMI: www.beechcraft.com

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