Textron’s Cessna Aircraft Company to Acquire Assets of Columbia Aircraft

Cessna was the successful bidder for select assets of Columbia Aircraft Manufacturing Company. The bid of $26.4 million was the high bid in United States Bankruptcy Court.


The Cessna 350 will feature an all-composite airframe, Garmin G1000 avionics and GFC700 flight control system, and Teledyne Continental TSIO-550-C engine, while the Cessna 400 will offer the same features with dual turbochargers for the engine. The 400 is one of the fastest piston aircraft in the world with a top speed of 270 miles per hour – more than 235 knots.

About Cessna Aircraft Company

Based on unit sales, Cessna Aircraft Company is the world's largest manufacturer of general aviation airplanes. In 2006, Cessna delivered 1,239 aircraft, including 307 Citation business jets, and reported revenues of about $4.2 billion. Cessna has a current backlog of $11.9 billion. Since the company was originally established in 1927, some 190,000 Cessna airplanes have been delivered to nearly every country in the world. The global fleet of more than 5,000 Citations is the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at www.cessna.com.

About Textron Inc.

Textron Inc. is an $11 billion multi-industry company operating in 32 countries with approximately 40,000 employees. The company leverages its global network of aircraft, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Fluid & Power, Textron Systems and Textron Financial Corporation. More information is available at www.textron.com.

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