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News: Textron Aviation Completes Acquisition Of Pipistrel

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  1. Pipistrel Acquired By Textron Aviation
    Recently JF alerted you to the fact that Textron Aviation was looking to jump into the electric/hybrid-electric sector and they were utilizing the avenue of looking to acquire Pipistrel. The parent company of brands like Cessna and Beechcraft have now successfully completed the acquisition of Pipistrel. As a Textron company, Pipistrel will have access to greater resources, technical and regulatory expertise and a global aircraft sales and support network, enabling it to accelerate its development and certification of electric and hybrid electric aircraft. Pipistrel is now part of Textron’s newest business segment, Textron eAviation, which will pursue Textron’s long-term strategy to offer a family of sustainable aircraft for urban air mobility, general aviation, cargo and special mission roles. Rob Scholl, who has been leading Textron’s eAviation initiatives to date, has been named president and CEO of the segment.
  2. "Pipistrel has already achieved what many other companies only aspire to – certifying and delivering highly regarded electric aircraft to customers around the world," said Textron Chairman and CEO Scott Donnelly. "We are excited to accelerate Pipistrel’s development and to welcome its talented people into our organization, where we will pool expertise to make Textron a world leader in sustainable aircraft for a wide range of missions." Under the terms of the transaction, Textron purchased Pipistrel for a cash purchase price of approximately €218 million. Pipistrel’s founder and CEO, Ivo Boscarol, will remain a minority shareholder of Pipistrel with an approximately 10 percent interest for a two-year period.

    For more information:

    Cessna Aircraft Company
    1 Cessna Blvd.
    Wichita, KS 67215
    www.cessna.com

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