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Textron Inc. (NYSE: TXT), residence to the Cessna, Beechcraft, and Bell aviation manufacturers, as we speak introduced it has entered into an settlement to buy Pipistrel, an award-winning pioneer and international chief in electrically powered plane, based mostly in Slovenia and Italy.
Textron Inc. (NYSE: TXT), residence to the Cessna, Beechcraft, and Bell aviation manufacturers, as we speak introduced it has entered into an settlement to buy Pipistrel, an award-winning pioneer and international chief in electrically powered plane, based mostly in Slovenia and Italy.
With Textron, Pipistrel may have entry to larger sources, technical and regulatory experience and a worldwide plane gross sales and assist community, enabling it to speed up its improvement and certification of electrical and hybrid electrical plane. Upon closing of the transaction, Textron plans to type a brand new enterprise section, Textron eAviation, targeted on the event of sustainable plane, which can embody Pipistrel.
“Pipistrel places Textron in a uniquely robust place to develop applied sciences for the sustainable aviation market and develop quite a lot of new plane to fulfill a variety of buyer missions,” stated Textron Chairman and CEO Scott Donnelly. “At present’s announcement helps Textron’s long-term technique to supply a household of sustainable plane for city air mobility, basic aviation, cargo and particular mission roles.”
“Pipistrel has been celebrated as one of many world’s most necessary and profitable producers of electrical plane,” continued Donnelly. “Textron is dedicated to sustaining Pipistrel’s model, headquarters, analysis and improvement, and manufacturing in Slovenia and Italy, whereas making further investments in Pipistrel for the event and manufacturing of future merchandise.”
Pipistrel founder and CEO Ivo Boscarol will stay a minority shareholder in addition to Chairman Emeritus, consulting on future product plans and methods for a two-year interval.
“Beneath my 30-year management, Pipistrel’s staff has achieved a novel prime place in private, inexpensive, environmentally pleasant and electrical aviation. The development and basis for future initiatives has clearly been set,” stated Boscarol. “To drive Pipistrel’s formidable objectives and to proceed its story of success, the becoming a member of of Textron and Pipistrel gives deep experience and sources which might in any other case be inaccessible to Pipistrel alone. With Textron, we’re collectively geared to attempt for future development and sit up for asserting thrilling new merchandise and initiatives. I’m delighted to proceed witnessing my imaginative and prescient grow to be a actuality by being actively engaged with the corporate for the longer term.”
The transaction is predicted to shut throughout the second quarter of 2022, topic to customary closing situations, together with regulatory approvals.
About Textron Inc.
Textron Inc. is a multi-industry firm that leverages its international community of plane, protection, industrial and finance companies to supply clients with modern options and companies. Textron is understood all over the world for its highly effective manufacturers corresponding to Bell, Cessna, Beechcraft, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, and Textron Techniques. For extra data, go to: www.textron.com.
About Textron eAviation
Headquartered in Wichita, Kansas, Textron eAviation will deal with sustainable flying, backed by Textron’s 100 years of experience and the stressed spirit for innovation that’s embodied in our Cessna, Beechcraft and Bell manufacturers.
Taking the lead in Textron’s improvement of sustainably powered flight, Textron eAviation will leverage the industry-leading product design, certification, manufacturing, and aftermarket options from throughout Textron’s companies coupled with the newly acquired experience of Pipistrel.
About Pipistrel
In 2020, Pipistrel’s Velis Electro turned the world’s first, and presently solely, electrical plane to obtain full type-certification from the European Union Aviation Security Company (EASA). This achievement adopted a collection of electrical plane introductions because the firm started analysis and improvement of electrical propulsion in 2000. Pipistrel’s pioneering work has been acknowledged by way of awards from NASA, IDC, and different organizations. The corporate, which presents a household of gliders and lightweight plane with each electrical and combustion engines, has delivered greater than 2,500 gentle plane worldwide since its founding in 1989 and moreover has each hybrid and electrical propulsion fashions underneath improvement. This transaction embody the next firms: PIPISTREL d.o.o., PIPISTREL VERTICAL SOLUTIONS d.o.o. and PIPISTREL ITALIA SRL. For extra data, go to: www.pipistrel-aircraft.com
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