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Manufacturer of general aviation planes Cessna Aircraft Company, a business unit of Textron Inc (NYSE: TXT), announced on Tuesday (27 November) that the company has successfully bid and acquired selected assets of Columbia Aircraft Manufacturing Company, a producer of high-performance, single-engine aircraft based in Bend, Oregon, US. The transaction, valued at USD26.4m, is expected to extend Cessna's single engine products line. Upon closure of the transaction, the Bend operation will take on the Cessna name and be one of six Cessna manufacturing facilities. Cessna said that it intends to rename the current Columbia product line to become the Cessna 350 and the Cessna 400. The Cessna 350 will reportedly feature an all-composite airframe, Garmin G1000 avionics and GFC700 flight control system and Teledyne Continental TSIO-550-C engine. The Cessna 400 will offer the same features with dual turbochargers for the engine. Also, Cessna and its network of authorised dealers and service centres, plan to integrate sales and support of the former Columbia aircraft. Cessna Parts Distribution is expected to become the source for parts and the company also intends to develop direct communications with current owners. The transaction is expected to close by 4 December 2007.
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