Providence, RI - April 3, 2009 - Textron Inc. (NYSE: TXT) today announced that it has completed the sale
of HR Textron, an operating unit within its Textron Systems segment, to
Woodward Governor Company. The closing of this deal will result in
approximately $265 million in after-tax cash proceeds for the Company.
About HR Textron
HR Textron is one of the world's leading suppliers of mission critical
actuation systems and products for aircraft, guided weapons, armored
vehicles and turbine engines. HR Textron is recognized for hydraulic and
electric primary flight control actuation products supporting the F-35
Joint Strike Fighter, X-45 unmanned combat air vehicle (UCAV), Joint
Direct Attack Munition (JDAM), and AIM-9-X Sidewinder programs, as well
as a broad range of military and commercial helicopters. HR Textron also
provides turret controls and gun stabilization systems for the U.S. M1
Abrams Main Battle Tank and other armored vehicles worldwide; is one of
the world's leading suppliers of servovalves for critical jet engine
controls; and supplies fuel system components to commercial and military
programs around the world. Where demand is for mission critical
actuation controls and systems, HR Textron brings the experience and
technologies necessary to meet customer requirements for performance,
reliability and value.
About Textron Systems
Textron Systems Corporation has been providing innovative solutions to
the defense, homeland security and aerospace communities for more than
50 years. Known for its unmanned aircraft systems, armored vehicles,
advanced marine craft, intelligent battlefield and surveillance systems,
intelligence software solutions, precision smart weapons, piston
engines, test and training systems, and total life cycle sustainment
services, Textron Systems includes AAI Corporation, Lycoming Engines,
Overwatch Geospatial Systems, Overwatch Tactical Operations, Textron
Defense Systems, and Textron Marine & Land Systems. Textron Systems
Corporation is an indirect wholly owned subsidiary of Textron Inc. More
information is available at www.textronsystems.com.
About Textron Inc.
Textron Inc. is a $14.2 billion multi-industry company operating in 28
countries with approximately 42,000 employees. The company leverages its
global network of aircraft, defense and intelligence, industrial and
finance businesses to provide customers with innovative solutions and
services. Textron is known around the world for its powerful brands such
as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming,
E-Z-GO, Greenlee, Textron Systems and Textron Financial Corporation.
More information is available at www.textron.com.
About Woodward Governor Company
Woodward is an independent designer, manufacturer, and service provider
of energy control and optimization solutions for commercial and military
aircraft, turbines, reciprocating engines, and electrical power system
equipment. The company's innovative fluid energy, combustion control,
electrical energy, and motion control systems help customers offer
cleaner, more reliable, and more cost-effective equipment. Leading
original equipment manufacturers use our products and services in
aerospace, power and process industries, and transportation. Woodward is
headquartered in Fort Collins, Colo., USA and serves global markets in
aerospace, power and process industries, and transportation. Visit our
website at www.woodward.com.