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?
Nancy Pelosi outdid the African-American messiah with that one.
She was trying to keep the air traffic count down so it wouldn’t interfere with her weekly jaunt to the west coast.
Well, a few years ago we got some really good deals on "Made in China" hammers at Home Depot.
A 90, 100, 200, 300, 350, all or some?
A good aircraft for decades!
Get used to it.
As currently operated, all American companies will be eventually purchased by Chinese companies.
All of them.
That is the current trend. Chinese buy. Americans sell.
Americans bail. Chinese plan.
WTF are we doing?
500 in an E90 and over 2,000 in 200's
Some days I miss it, some days I don't lol. On call 7 days a week took its toll but it was a wonderful way to live also for single guy.
Or as a smart guy said on CNBC a few yrs ago, China has central planning by engineers, mathematicians, and scientists, and the US has central planning by lawyers. By definition, we lose.
Wen I read the line about all the jobs it will save I thought to myself: “Yeah. For about as long as it will take for the ching-changs to duplicate the tooling, or just flat out MOVE it over there!
Just curious, ever have any "hot start" shutdowns with the PT6?
24/7 for me for a few years, on the maintenance end, too with King Airs. Now it's another American made "suck and blow" aircraft company for me.
Nah, never had any real problems with them. The only time I shut one down was on landing at Detroit Metro, a chip detect light came on right at touch down, shut it down since we were already on the ground and taxied in, no one in back knew any different, just a bad sensor...........and before anyone asks it was a smooth touch down :)
They were a pleasure to operate, you always knew you had a solid aircraft behind you.
We are allowing a half breed and his DC crowd to destroy what once was a nation to be proud of.
Unbeatable for their class of aircraft.
“We get to keep the labor, at least until they dismantle the plant and send the tooling to China. “
Yup. They have a record of doing that.
The Chinese did that when they bought Rover. Took all the machines, jigs, and everything back to China. I wouldn’t be surprised if they took the plumbing fixtures too. Then the factory was torn down. Worst thing is the sleazy little bastards got the MG trademark and are using it. They say it means “Modern Gentleman” - the pricks.
Google Longbridge assembly plant if you want to know more.
Take your pick.
Winning the Future?
But I'd be prepared to forgive them if they went and produced a car that looks exactly like the Z series - the best looking Brit car of the 50s
You know, it’s kind of funny in a sick-minded sort of way, but we are the indigenous population of a nation that is colonized. Much as African or Asian countries were two hundred years ago the US is now sending the wealth of it’s nation to another nation to enrich their ruling class.
The only difference is that with modern technology the other country does not need to expend treasure to pacify and occupy us. It’s all done by moving electrons through the system and the willingness of the indigenous population to be slaves. Really remarkable when you consider it.
On another topic, I could cut/paste your homepage to mine and there would be no need for edit.
They had installed lights at their high school football field, the first lighted high school field west of the Missouri. The lights hadn't been paid for with tax money anyway, but rather voluntary collections, so that the working class folks (my dad was well below that, Grandma being a single Mom and all) could watch their kids play, since they were working during the them usual time. As soon as they voted for annexations, after lots of promises and a prior rejection by the voters, they merged the school districts, took the lights for some tennis courts, and forbade night football in the new district. Eventually that high school, and 2 others in formerly independent towns, were consolidated into one.. the one I went to. Dad went one year after consolidation. Had some of the same teachers even.
The Fed Gov’s war against general aviation is killing everyone.
We need a real revolution.