Beechcraft hopes to complete sale of some assets by end of year

12/10/2013 10:42 AM

08/08/2014 10:20 AM

Beechcraft Corp.’s CEO Bill Boisture said Monday that he still expects a sale of some of the company’s assets to close this month.

Beechcraft is selling its Hawker 4000 and Premier business jet assets, which include the company’s Plant 3 composite manufacturing facility.

The company is in the final stages of negotiations with a buyer.

“We are reviewing legal documents to get agreement on the last few key points,” Boisture said.

The potential buyer has plans for the Plant 3 facility, Boisture said in October, and is intending to go into the composite component manufacturing business.

He doesn’t think, however, that the buyer planned to restart jet production, Boisture said at the time.

Boisture has declined to identify the potential buyers.

Beechcraft exited the business of jet manufacturing during its Chapter 11 bankruptcy proceedings last year.

The assets are for sale as part of the company’s restructuring. The company emerged from bankruptcy in February as the smaller Beechcraft Corp., focusing on King Air, Bonanza and Baron products and its military and aftermarket divisions.

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