Providence, RI - May 8, 2007 - Based on current
and pending U.S. Department of Defense budget requests, Textron
Systems Corporation, a Textron Inc. (NYSE: TXT) company, expects to
deliver about 530 of its highly successful Armored Security Vehicle
(ASV) units in 2007 and at least as many next year. The outlook for
ASV production remains strong despite recent notification from the
U.S. Marine Corps that the company will not be receiving any
additional delivery orders for the Mine Resistant Ambush Protected
Vehicle (MRAP) program.
"We continue to experience both strong demand and exceptional
customer feedback for the ASV," said Frank Tempesta, president,
Textron Systems. "In addition, through our participation in the MRAP
program, we were able to make some design improvements for integration
into the ASV platform that will produce substantial benefits for
present and future customers - design improvements that will serve to
augment the long-term success of the current ASV program, as well as
position Textron for the even longer-term success of the platform."
Textron's MRAP prototype design was a variant of their M1117
Armored Security Vehicle (ASV), which it produces principally for the
U.S. Army. The company, through its Textron Marine & Land Systems
operating unit in New Orleans, was one of nine companies asked to
develop and submit prototype/test vehicles for consideration for the
U.S. Marine program.
About the ASV
The ASV is a 4X4 wheeled armored vehicle that offers significant
crew protection through the employment of multiple layers of armor
that provides defense against small arms fire, artillery projectile
fragments, and land mines. This advanced armor is exceedingly
lightweight and allows the vehicle to be able to "roll-on/roll-off"
C-130 military transport aircraft. The ASV possesses superior
mobility, agility, handling, and ride quality through the utilization
of a four-wheel independent suspension system. Textron Marine & Land
has equipped the U.S. Army Military Police version with a specially
designed dual-weapon station that, unlike many other vehicles, enables
the crew to load, reload and clear gun jams under full armor
protection. With minor modifications and appropriate outfitting, ASV
variants can perform a wide variety of missions including scout,
infantry personnel carrier, reconnaissance, command and recovery.
About Textron Systems
Textron Systems Corporation ("Textron Systems"), part of Textron's
Bell Helicopter Segment, provides innovative technology solutions to
meet the needs of the defense, homeland security and aerospace
communities, and is known for its precision smart weapons,
surveillance systems, complex intelligence and communications systems,
aircraft control components, piston engines, specialty marine craft
and armored vehicles. Textron Systems is a wholly-owned subsidiary of
Avco Corporation. Avco Corporation is wholly-owned subsidiary of
Textron Inc. More information is available at www.systems.textron.com.
About Textron
Textron Inc. is an $11 billion multi-industry company operating in
32 countries with approximately 40,000 employees. The company
leverages its global network of aircraft, 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, Fluid & Power, Textron Systems and Textron
Financial Corporation. More information is available at
www.textron.com.
Forward-looking Information: Certain statements in this report and
other oral and written statements made by Textron from time to time
are forward-looking statements, including those that discuss
strategies, goals, outlook or other non-historical matters; or project
revenues, income, returns or other financial measures. These
forward-looking statements speak only as of the date on which they are
made, and we undertake no obligation to update or revise any
forward-looking statements. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially from those contained in the statements, including
the following: (a) changes in worldwide economic and political
conditions that impact demand for our products, interest rates and
foreign exchange rates; (b) the interruption of production at Textron
facilities or Textron's customers or suppliers; (c) Textron's ability
to perform as anticipated and to control costs under contracts with
the U.S. Government; (d) the U.S. Government's ability to unilaterally
modify or terminate its contracts with Textron for the Government's
convenience or for Textron's failure to perform, to change applicable
procurement and accounting policies, and, under certain circumstances,
to suspend or debar Textron as a contractor eligible to receive future
contract awards; and (e) changes in national or international funding
priorities and government policies on the export and import of
military and commercial products.
