Textron

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Textron Inc.
Type Public
Traded as NYSETXT
S&P 500 Component
Industry Conglomerate
Founded 1923
Headquarters Providence, Rhode Island, USA
Key people Scott C. Donnelly[1]
(Chairman, CEO, President and Member of Management Committee)
Revenue Increase US$ 3.506 billion (2013)[2]
Operating income Increase US$ 581 million (2012)[3]
Net income Increase US$ 242 million (2011)[3]
Total assets Decrease US$ 10.711 billion (2012)[3]
Total equity Decrease US$ 2.991 billion (2012)[3]
Employees 33,000 (2013)[1]
Website www.textron.com

Textron (NYSETXT) is an American industrial conglomerate. Textron includes Bell Helicopter, Cessna Aircraft, and other components. It was founded by Royal Little in 1923 as the Special Yarns Company, and is now headquartered in Providence, Rhode Island.

History[edit]

Scott C. Donnelly became CEO in December 2009.[4]

On December 26, 2013, Textron agreed to purchase Beechcraft, including the discontinued Hawker jet line, for $1.4 billion. The sale was expected to be concluded in the first half of 2014, pending government approval.[5][6][7][8]

Divisions and subsidiaries[edit]

Bell Helicopter[edit]

Bell 429 Helicopter

Bell Helicopter is an American helicopter and rotorcraft manufacturer headquartered in Hurst, Texas, near Fort Worth.

Cessna[edit]

The Cessna Aircraft Company is an American general aviation aircraft manufacturing corporation headquartered in Wichita, Kansas. Merged into Textron Aviation in March 2014.[9]

E-Z-Go[edit]

E-Z-Go is a designer and manufacturer of light transportation vehicles for golf courses and for other uses.[citation needed] Products include electric and internal combustion golf carts and multipurpose utility vehicles under the E-Z-Go, Cushman, and Bad Boy Buggy brands.

Greenlee[edit]

Greenlee Textron is an industrial and electrical tool company headquartered in Rockford, Illinois, USA. It was founded in 1862 by brothers Robert and Ralph Greenlee to manufacture their invention, a drill surrounded by four chisel blades, used in making the pockets for a mortise and tenon joint, for the furniture industry in Rockford. This device is still used in cabinetmaking. The brothers later diversified into a variety of hand woodworking tools as well as machinery for making wooden barrels. The company was acquired by Textron in 1986. Greenlee today produces various wire and cable installation tools that are used in a variety of fields.

Jacobsen[edit]

Textron purchased Jacobsen Manufacturing around 1975, and continued to produce Jacobsen garden tractors into the 1990s.[10] Today Jacobsen sells various products used for turf care: maintenance equipment, vehicles, and other products.

Kautex Textron[edit]

Kautex Textron is a supplier to the automotive industry. The company produces plastic fuel systems, selective catalytic reduction systems, windshield and headlamp washer systems, and other products.

Textron Airland[edit]

Textron AirLand, LLC is a joint venture between Textron Inc. and AirLand Enterprises, LLC that is currently developing the Textron AirLand Scorpion aircraft as a private venture.[11]

Textron Aviation[edit]

Textron Aviation is a new venture formed in March 2014 from Beechcraft and Cessna, retaining the Beechcraft, Cessna and Hawker aircraft type names as brands.[9]

Textron Systems[edit]

RQ-7B Shadow UAV

Textron Systems is an aerospace and defense development and manufacturing firm headquartered in Providence, Rhode Island, USA. The company is a business unit of Textron Inc., which reported 2012 annual sales in the Textron Systems segment as $1.7 billion.

Textron Systems has several operating units, including:

References[edit]

  1. ^ a b "More On Textron; Profile". Yahoo! Finance. December 31, 2011. Retrieved July 20, 2012. 
  2. ^ finance.yahoo.com. Yahoo http://finance.yahoo.com/q/is?s=txt |url= missing title (help). Retrieved 1 July 2014. 
  3. ^ a b c d "10-K Form FY11". Morningstar. February 23, 2012. Retrieved July 19, 2012. 
  4. ^ "About Textron: Leadership: Biography". Textron.com. Retrieved 2014-01-07. 
  5. ^ Textron buys Beechcraft in $1.4 billion deal
  6. ^ Textron to buy Beechcraft parent for $1.4bn
  7. ^ AVweb Staff (26 December 2013). "Textron Confirms Beech Acquisition". Avweb. Retrieved 27 December 2013. 
  8. ^ Niles, Russ (30 December 2013). "Textron Fleshes Out Beech Deal". AVweb. Retrieved 30 December 2013. 
  9. ^ a b "Textron Completes Acquisition of Beechcraft". Textron. 14 March 2014. 
  10. ^ Will, Oscar H. (2009). Garden Tractors: Deere, Cub Cadet, Wheel Horse, and All the Rest, 1930s to Current. Voyageur Press. p. 55. ISBN 978-1-61673-161-8. Retrieved October 27, 2013. 
  11. ^ Niles, Russ (1 December 2013). "Scorpion May Not Be Built By Cessna". Avweb. Retrieved 7 January 2014. 

External links[edit]