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Raytheon Aircraft Company
From Wikipedia, the free encyclopedia
Raytheon Aircraft Company based in Wichita, Kansas, United States has James E. Schuster as its Chairman. It is a division of Raytheon.
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(See also, Beechcraft)
On February 8, 1980, Beech Aircraft Corporation becomes a subsidiary of Raytheon Company. In August 1993, Raytheon Company acquired Raytheon Corporate Jets, producers of the midsized Hawker jet line, from British Aerospace. In mid-September of 1994, Beech Aircraft Corporation ("Beechcraft") and Raytheon Corporate Jets merged to form Raytheon Aircraft.
Ending months of industry speculation; Raytheon announced in July 2006 that it intends to sell its money-losing aircraft manufacturing business in an effort to focus on core defense related divisions. The Raytheon name and logo were almost invisible at recent trade shows such as NBAA 2006 as the company attempted to re-brand itself behind the Beechcraft and Hawker names.
Bidders for the company included Carlyle Group, Cerberus Capital Management and Onex Corporation.
On December 21, 2006 Raytheon reported that has signed an agreement to sell Raytheon Aircraft to Hawker Beechcraft Corporation, a subsidiary of Goldman Sachs, and Onex. The sale will not include Flight Options or Raytheon Airline Aviation Services (RAAS).