Posted: Friday, 27 December 2013 8:13PM
Wichita leaders hopeful about merger
WICHITA, Kan. - Civic leaders in Wichita are expressing optimism following the sale of one of the community's linchpin aviation companies to a competitor.
Textron Inc. announced late Thursday that it will pay $1.4 billion to purchase Wichita-based Beechcraft Corp. The deal is expected to close around the middle of 2014.
What the deal will mean for Beechcraft's 5,400 employees, including about 3,300 in Wichita, isn't yet clear. Textron officials say a transition team hasn't yet formed so it's too early to speculate about things like job cuts.
Wichita State economist Jeremy Hill says both companies are already lean, so he doesn't expect a lot of job cuts.
Wichita's mayor and city council say they expect the merger will have a positive impact on the businesses and the community.