July 30, 2005 |
Textron Inc.'s Bell Helicopter unit was chosen by the Army to build 368 armed reconnaissance helicopters in a contract the company valued at $2.2 billion. The craft, based on Bell's 407 helicopter, will replace the OH-58D Kiowa Warriors, which were also produced by Bell. Fort Worth-based Bell beat out a rival team led by Boeing Co. for the work, which will start with an initial development contract worth $210.7 million. Textron said Bell would deliver the new aircraft through 2013.
January 19, 2005 |
Problems with gearboxes aboard the V-22 tilt-rotor aircraft built by Boeing Co. and the Bell Helicopter unit of Textron Inc. could delay the start of operational tests due to begin in mid- to late-February, a program spokesman said Tuesday. Ward Carroll said the problem had set off cockpit warning lights six times since April 2004, including three in the last month. Such a warning requires the pilot to land as soon as possible.
March 24, 2004 |
General Motors Corp. is suing Textron Inc. and Steel Dynamics Inc., which the automaker accuses of overcharging for steel and steel parts. The defendants violated contracts by charging extra to compensate for rising steel prices, General Motors spokesman Tom Hill said. Both companies have threatened to stop shipments if they aren't paid, Hill said. General Motors is the only customer disputing the price increases, said a spokesman for Fort Wayne, Mich.
March 21, 2003 |
Textron Inc. warned that it would cut its profit forecast this year, eliminate 11% of Cessna Aircraft Co.'s workforce and furlough an additional 6,000 employees because of weakening demand for business jets. Shares of Providence, R.I.-based Textron tumbled 15% to their lowest level in nearly eight years. Textron expects to deliver 180 to 195 Cessna jets this year, down from its previous estimate of 220 planes. NetJets Inc., a unit of Berkshire Hathaway Inc.
September 27, 2001 |
Plane and helicopter maker Textron Inc. said the Sept. 11 attacks and the weak economy will hurt earnings for the rest of the year and it will further curtail production, close 50 more plants and cut 2,500 more jobs. The news hit shares of Textron hard, sending them down $10.20, or 24%, to close at $32.80 on the NYSE. Textron, maker of Bell helicopters, Cessna airplanes and golf carts, said 2002 earnings will fall below Wall Street estimates. Providence, R.I.
March 2, 2001
* Textron Inc. said first-quarter earnings per share would be down about 7% from a year ago, in line with lowered guidance provided in January when the company said it would cut 5% of its work force amid a slowdown in the U.S. auto industry. Providence, R.I.