Cessna successful in bid for Columbia Aircraft
BY MOLLY MCMILLIN
The Wichita Eagle
Cessna Aircraft was the successful bidder today in an auction to buy troubled Columbia Aircraft Co.
Cessna will pay $26.4 million – $15.9 million in cash and the assumption of some liabilities – for the company. The purchase still needs approval from the bankruptcy court.
Columbia, which builds high-performance single-engine piston aircraft, filed for bankruptcy protection in September.
Aircraft composites materials producer Park Electrochemical Corp. also bid on Columbia.
Cessna signed a purchase and sale agreement for the company last month.
Cessna officials have said the company plans to keep Columbia in Bend and make investments in the business.
Columbia employs more than 400 people.