Skip to comments.Hawker Beechcraft announces $1.79 billion sale to China’s Superior Aviation
Posted on 07/09/2012 4:58:02 PM PDT by ruralvoter
Struggling aircraft maker Hawker Beechcraft announced Monday that it had reached a $1.79 billion exclusivity agreement with a Chinese aerospace manufacturer for the sale of its business jet and general aviation operations in a deal that will save thousands of jobs in Kansas and Arkansas.
Under the agreement Beijing-based aerospace manufacturer Superior Aviation Beijing Co., Ltd., will buy Hawker Beechcraft and make payments over the next six weeks to support ongoing operations until the deal is finalized.
The sale does not include Hawker Beechcraft Defense Co., which will remain a separate entity.
(Excerpt) Read more at washingtonpost.com ...
Commies taking over another US company. This is just swell. With money we’ve paid them. Obama just laughs.
Isn’t Obama nice to preside over the decline and sell-off of America.
China just got a Bonanza.
How interesting. The company name “Goldman Sachs” is not mentioned in the AP article. (It IS mentioned in the Bloomberg article) GS Capital is Goldman Sachs. So, his buds at “GS” win, the Chinese “win”.
How does the U.S. “win”?
Forked tail doctor killer?
Walter Beech is turning in his grave.
China just got a Bonanza.
Great airplane. I had two of them in my younger years, a G and an H.
He should use it in his campaign. /s
Whiskey Tango Foxtrot. They might as well change the damn name to Chengdu soon! Now they deserve to get screwed over for the light-attack aircraft competition that was re-opened because of their nagging.
I’m sure Baraq trashing private biz jets was a big help here.
Here is a link to a recent news article about their bankruptcy details.
- Underfunded pension plans
- Downturn in market
Goldman Sachs was part of a LBO in 2007.
Consider this timing:
“The company is aiming to confirm and execute its reorganization plan by November 15 and December 15, respectively.”
Does this mean they want the company tied up in a little red China bow before the new administration rolls into DC?
I have had a very bad day and now this.
Suck up the technology and shut it down.
Sounds like the deal doesn’t let them shut it down for awhile, anyway. But definitely they will take all the technology. And make stuff out of cheaper parts that fail more often.
This sale should require Obama’s approval and based on his leaning toward communism and Islam, I expect him to approve.
Not bad for enemies of We the People of the United States; exporting jobs, advanced research, latest technology, and manufacturing processes to an enemy with one presidential signature.
We get to keep the labor, at least until they dismantle the plant and send the tooling to China.
Was it a V-tail?