Advertisement
YOU ARE HERE: LAT HomeCollectionsTextron Inc
IN THE NEWS

Textron 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.
Advertisement
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.
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 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
September 5, 1998 | Bloomberg News
Textron Inc. said it agreed to acquire British engineering firm David Brown Group for $431 million in cash and debt to expand its fluid and power systems group overseas. Providence, R.I.-based Textron, a conglomerate that makes Cessna jets and auto parts, last month sold its Avco Financial Services unit for $3.9 billion, providing it with $1.6 billion to fund acquisitions in the industrial segments.
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
May 13, 1988 | From Reuters
A subsidiary of Textron Inc. on Thursday became the first U.S. firm to win a major airframe contract for the European Airbus, the civil airliner project that the U.S. government says is unfairly subsidized. The $700-million subcontract to build components for a new broadspan Airbus wing went to Textron Aerostructures of Nashville, Tenn. The subcontract from British Aerospace PLC is the biggest it has ever awarded for the Airbus.
BUSINESS
August 17, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
The owner of Avco Financial Services Inc. said Monday that 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 seek approval for the public sale of 17% to 19% of its Paul Revere Corp.
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.
Los Angeles Times Articles
|