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TEXTRON COMPLETES ACQUISITION OF CESSNA AIRCRAFT COMPANY

 TEXTRON COMPLETES ACQUISITION OF CESSNA AIRCRAFT COMPANY
 PROVIDENCE, R.I., Feb. 28 /PRNewswire/ -- Textron, Inc. (NYSE: TXT) has completed its previously announced acquisition of the Cessna Aircraft Company from General Dynamics Corporation (NYSE: GD), James F. Hardymon, Textron's president and chief executive officer announced today.
 Hardymon said that Cessna will become a division in the company's Aerospace Technology sector, which includes a strong commercial aerospace component.
 On Jan. 20, Textron and General Dynamics announced an agreement for Textron to acquire Cessna for $600 million in cash. On Feb. 18, the Federal Trade Commission cleared the way for completion of the transaction by granting an early termination of the waiting period under the Hart Scott Rodino Act.
 Cessna, headquartered in Wichita, Kansas, recorded sales of approximately $820 million in 1991 and has a total workforce of about 5,400 employees. It is the world's leading designer and manufacturer of business jet and utility turboprop aircraft.
 Textron is a multi-industry company with operations focused in three business sectors: Aerospace Technology, Commercial Products and Financial Services.
 -0- 2/28/92
 /CONTACT: Raymond W. Caine of Textron, 401-421-2800/
 (TXT GD) CO: Textron Inc. ST: Massachusetts IN: ARO SU: TNM


DD-EG -- NE007 -- 3782 02/28/92 14:24 EST
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Publication:PR Newswire
Date:Feb 28, 1992
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