Advertisement
YOU ARE HERE: LAT HomeCollectionsTextron Inc
IN THE NEWS

Textron Inc

FEATURED ARTICLES
BUSINESS
August 1, 1985 | United Press International
A Textron Inc. subsidiary has bought the hydraulic filter products business of a Michigan company for an undisclosed price, the Providence-based parent company announced Wednesday.
ARTICLES BY DATE
BUSINESS
October 9, 2007 | From the Associated Press
providence, r.i. -- Textron Inc. said Monday that it would purchase United Industrial Corp. for about $1.1 billion in a deal that company officials said underscored the importance of unmanned aircraft to the U.S. military. The transaction would help Textron expand its aerospace and defense business. United Industrial's AAI Corp. unit, based in Hunt Valley, Md., makes aerospace and defense systems including unmanned aircraft and ground control stations and counter-sniper devices.
Advertisement
BUSINESS
September 3, 1994 | From Times Staff and Wire Reports
AlliedSignal to Acquire Textron Unit: The company said it will buy the Lycoming Turbine Engine Division of Textron Inc. for about $375 million in cash plus the assumption of some liabilities. The agreement must be reviewed by the Federal Trade Commission. Neither company would estimate when the review will be finished and the deal completed. AlliedSignal Inc. is an $11.8-billion manufacturing company that makes aerospace and automotive products, chemicals, fibers and plastics.
BUSINESS
September 29, 2005 | From Bloomberg News
Textron Inc. and Boeing Co.'s V-22 tilt-rotor aircraft won approval from the Pentagon's weapons-buying oversight board to enter full production, according to three defense officials. The decision triggers a phase in the program that the companies say may be valued at as much as $20 billion during the next 10 years to 15 years. The Pentagon plans to issue a formal statement on the decision by its Defense Acquisition Board, the officials said.
BUSINESS
November 26, 1998 | Bloomberg News
Textron Aerostructures, formerly a unit of Textron Inc., agreed to pay $9.8 million to settle allegations that it defrauded the Pentagon by inflating labor costs, the Justice Department said. A lawsuit filed in U.S. District Court in Nashville alleged that Textron Aerostructures inflated costs in contract proposals for work on the wings of the Air Force's B-1B bomber, the government said. The company, now part of Aerostructures Corp.
BUSINESS
July 7, 1992
Textron Inc. said it plans to sell its Textron Filtration Systems division in Newbury Park. The division, which makes filtration systems for aerospace and industrial markets, is being sold because it does not fit within Textron's strategy of focusing on its core businesses, the company said. Textron, based in Providence, R. I., is a diversified concern with interests in the aerospace, commercial products and financial services markets.
BUSINESS
September 11, 1996 | Times Staff and Wire Reports
AT&T Wins $1.1-Billion Textron Contract: The company beat out British Telecommunications for the 10-year contract to upgrade Textron Inc.'s communications system worldwide. Providence, R.I.-based Textron, the maker of Bell Helicopters, E-Z-GO golf carts and Cessna planes, hired AT&T Corp.'s Solutions unit to link the company's 25 divisions through phones and computers. Textron expects to save more than $125 million over 10 years by using AT&T to run the system rather than hiring contractors.
BUSINESS
August 17, 1993 | From Times Staff and Wire Reports
Textron to Sell Part of Unit: The owner of Avco Financial Services said it will sell up to 19% of one of its insurance subsidiaries but has no plans to sell all or part of its Avco group of finance and insurance companies. Textron Inc., a Providence, R.I., conglomerate, said it has filed documents with the Securities and Exchange Commission to sell 17% to 19% of its Paul Revere Corp.
BUSINESS
September 29, 2005 | From Bloomberg News
Textron Inc. and Boeing Co.'s V-22 tilt-rotor aircraft won approval from the Pentagon's weapons-buying oversight board to enter full production, according to three defense officials. The decision triggers a phase in the program that the companies say may be valued at as much as $20 billion during the next 10 years to 15 years. The Pentagon plans to issue a formal statement on the decision by its Defense Acquisition Board, the officials said.
BUSINESS
March 21, 2003 | From Reuters
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.
BUSINESS
July 30, 2005 | From Reuters
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.
BUSINESS
January 19, 2005 | From Reuters
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.
BUSINESS
March 24, 2004 | From Bloomberg News
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.
BUSINESS
March 21, 2003 | From Reuters
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.
BUSINESS
September 27, 2001 | Reuters
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.
BUSINESS
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.
BUSINESS
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.
BUSINESS
August 3, 1999 | Bloomberg News
Textron Inc., the biggest U.S. maker of commercial helicopters and mid-size jets, said it acquired Edwards & Associates Inc. for an undisclosed sum to expand sales of helicopter customization kits and used aircraft. Textron said Edwards will become part of its Bell Helicopter unit, which makes commercial and military helicopters. The closely held Edwards sells customization kits and accessories as well as used Bell helicopters. Edwards has sold customization kits to Bell customers for 20 years.
Los Angeles Times Articles
|