March 4, 2002
Textron is a $12-billion, diversified multi-industry company that has grown and evolved quite successfully during its 80-year history. By linking Textron with arguably "failed" conglomerates, "Enron a Rerun of History" (Feb. 22) misses what is most notable about Textron's story. In contrast to Ling-Temco-Vought, an over-leveraged company that twice filed for Chapter 11, and ITT, a conglomerate that several years ago completed the unwinding of its portfolio by splitting into three distinct businesses, we have successfully adapted our portfolio and business strategy to reward shareholders handsomely over the past 30 years.
December 23, 2008 |
Textron Inc., the maker of Bell helicopters and Cessna aircraft, said it would cut 2,200 jobs and exit all finance businesses except those that directly serve its manufacturing units. Chief Executive Lewis Campbell has been streamlining Textron to make the Providence, R.I., company more efficient.
July 30, 1987
Textron Inc. said Tuesday that it has sold its Anaheim-based Remex CAM Operations to Seymour Electronics and Automation Inc. The sale price was not disclosed. Seymour Electronics and Automation, of Topeka, Kan., is a subsidiary of Seymour Foods.
August 30, 1985
Under the plan, Textron will offer 4 million shares of common stock and sell three divisions to further reduce the $1.4 billion in debt that it incurred when it purchased Avco Corp. earlier this year. The divisions that the company plans to sell are Bostitch of East Greenwich, R.I.; Dalmo Victor of Belmont, Calif., and Valentine Sands Ltd. of Australia. Textron already this year has sold five divisions and offered four others for sale.
February 18, 2009 |
Government auditors denied protests lodged by Northrop Grumman Corp. and Textron Inc., keeping the military contractors out of a competition to build lightweight tactical vehicles to replace the Humvee. The Army and the Marine Corps have been looking for a vehicle that can withstand roadside bombs and explosives but is more agile on mountainous terrain and narrow roads than existing mine-resistant, ambush-protected vehicles being used in Iraq and Afghanistan. The services are expected to order 65,000 vehicles.
August 15, 1986 |
Ex-Cell-O Corp. directors rejected a $900-million takeover offer by Textron as too low because of recent improvements in the company's profitability, it was announced Thursday. "Textron's $68-per-share proposal fails to recognize the full value of Ex-Cell-O today," Ex-Cell-O Chief Executive E. Paul Casey said in a written statement. "At this price, Textron, not our shareholders, would reap the benefits we expect to see from our extensive restructuring."