Textron finishes buying aircraft maker Pipistrel

Pipistrel workers prepare aircraft for delivery to customers. (Pipistrel )

US industrial conglomerate Textron has completed its previously disclosed acquisition of Slovenia-based light aircraft manufacturer Pipistrel for about EUR218 million (USD236.5 million) in cash, Textron announced on 18 April.

Although Pipistrel mainly serves non-military markets, it has also done defence work, including building trainer aircraft for the Indian Ministry of Defence and surveillance aircraft for the Slovenian Ministry of Defence and US Special Operations Command. Pipistrel and UK-based BAE Systems recently agreed to jointly explore the development of electric-powered aircraft for the defence and security market.

Pipistrel, which offers both electric and combustion engines, will become part of Textron's new eAviation business segment, which will focus on offering electric aircraft for urban air mobility, general aviation, cargo, and special mission roles. Textron said it plans to expand Pipistrel's manufacturing and product development capabilities.

Pipistrel is joining a company whose aviation products include Bell rotorcraft and Beechcraft and Cessna fixed-wing aircraft. Textron acquired Pipistrel from founder and CEO Ivo Boscarol, who will remain involved as a minority shareholder and adviser for two years.