The Info List - Textron

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(NYSE: TXT) is an American global aerospace, defense, security and advanced technologies industrial conglomerate. Textron includes Bell Helicopter, Cessna
Aircraft, Beechcraft, and other components. It was founded by Royal Little in 1923 as the Special Yarns Company and is now headquartered in Providence, Rhode Island. Textron
employs over 35,000 people worldwide. Scott C. Donnelly is the current President
and Chief Executive Officer.


1 History

1.1 Early history 1.2 Campbell era 1.3 After Campbell

2 Divisions and subsidiaries

2.1 Able Aerospace Services 2.2 Arctic Cat 2.3 Bell Helicopter 2.4 E-Z-GO 2.5 Greenlee 2.6 Jacobsen 2.7 Kautex Textron 2.8 Textron
AirLand 2.9 Textron
Aviation 2.10 Textron

3 References 4 External links

History[edit] Early history[edit]

fabrics ad from 1948.

started as a textile company in 1923, when 22-year-old Royal Little founded the Special
Yarns Corporation in Boston, Massachusetts. The company manufactured synthetic yarns, a niche product at the time. By the start of World War II, the company was known as Atlantic Rayon Corporation and manufactured parachutes. As war production wound down, the company started making civilian products as well and was renamed Textron: “Tex" for "textiles", and "tron" from synthetics such as "Lustron". The company was listed on the NYSE in 1947.[2] Over the next decade and a half, Textron
purchased various other manufacturing companies. In 1960, the company also bought Bell Aerospace and E-Z-Go.[2] The textile division was sold to Deering Milliken in 1963.[3] Later CEOs included G. William Miller
G. William Miller
(1968–1977), Joseph Collinson (1977–1979), and Robert P. Straetz (1979–1986). In 1984, Textron took on more debt and bought Avco, a conglomerate almost as big as itself. Later on, James Hardymon took over as CEO.[2] Campbell era[edit] Hardymon brought in Lewis B. Campbell, who became CEO in 1998.[citation needed] Starting in 2000, Campbell led a company-wide restructuring program. The share price fell to as low as $13/share in March 2003 after the economic downturn following the collapse of Internet companies and the terrorist attacks on the World Trade Center. Diminished demand for helicopters and airplanes led to layoffs at Cessna
and Bell Helicopter.[citation needed] In 2004, Forbes magazine named Campbell as the fifth worst-performing CEO in the country. In 2007, the Wall Street Journal
Wall Street Journal
reported that Campbell had received $494,700 in compensation in the form of his use of a corporate jet to travel between his home and office, which made him the most expensive CEO in the country in terms of use of jet travel. Some shareholders have questioned whether it is a good use of shareholder dollars to pay for the personal lifestyle choice of the CEO to live in one state and work in another.[4] Shares in Textron
plummeted to as low as $10.09 per share in the aftermath of the 2008 economic downturn, driving its market capitalization down to just $3.17 billion.[citation needed] While the company lost 75% of its value in the first ten years of Campbell's leadership, he managed to take home over $120 million in compensation. His salary in 2008 was $25 million, making him the highest paid executive of a conglomerate. Campbell managed to sell over $40 million in Textron
stock in April and May 2008, at prices over $60 per share. After Campbell[edit] Scott C. Donnelly became CEO in December 2009.[5] Textron
acquired Mechtronix in Montreal, Quebec, and OPINICUS in Tampa, Florida, in 2013. Donnelly combined these flight simulation companies, along with Textron’s AAI Logistics & Technical Services, to form TRU Simulation & Training in 2014.[2] 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.[6][7][8][9] The company formed a new company called Textron Aviation
Textron Aviation
to market the products of Beechcraft, Cessna, and Hawker as individual brands.[2] From 2013 to 2016, R&D investments were 4.3%, 4.0%, 4.6% and 4.2% of its revenues ($13.78 billion in 2016) and totaled more than $2.2 billion as it develops seven aircraft: the Bell 525 Relentless, Bell V-280 Valor tiltrotor, Cessna
Citation Longitude, Cessna
Citation Hemisphere, Cessna
Denali single-engine turboprop, the Cessna SkyCourier twin cargo hauler and the Textron Scorpion
Textron Scorpion
close support jet after the certification of the Bell 505 Jet Ranger X.[10] Divisions and subsidiaries[edit] Able Aerospace Services[edit] Able Aerospace Services
Able Aerospace Services
is an international business and $70 million aerospace enterprise that is performing more than 8,000 proprietary FAA-approved repairs on aircraft and components.[11] Arctic Cat[edit] On March 6, 2017, Textron
bought out Arctic Cat
Arctic Cat
for US$247M. Arctic Cat is a manufacturer of snowmobiles, all-terrain vehicles, and side-by-sides. Textron
will operate Arctic Cat
Arctic Cat
as a subsidiary of Textron
Specialized Vehicles.[12] Bell Helicopter[edit]

Bell 429
Bell 429

Bell Helicopter
Bell Helicopter
is an American helicopter and rotorcraft manufacturer headquartered in Hurst, Texas, near Fort Worth. E-Z-GO[edit] E-Z-GO is a designer and manufacturer of light transportation vehicles for golf courses and for other uses. Products include electric and internal combustion golf carts and multipurpose utility vehicles under the E-Z-Go, Cushman, and Bad Boy Buggy brands.[13] Greenlee[edit] Greenlee
is an industrial and electrical tool company headquartered in Rockford, Illinois. 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.[14] 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.[15] Textron
Aviation[edit] Textron Aviation
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.[16]

Corporation is an American manufacturer of general aviation and military aircraft, ranging from light, single-engined aircraft to twin-engined turboprop transports and military trainers. The Cessna Aircraft
Cessna Aircraft
Company is an American general aviation aircraft manufacturing corporation headquartered in Wichita, Kansas. It was merged into Textron Aviation
Textron Aviation
in March 2014.[16]


RQ-7B Shadow
RQ-7B Shadow

Systems is an aerospace and defense development and manufacturing firm headquartered in Providence, Rhode Island. The company reported 2012 annual sales in the Textron
Systems segment as $1.7 billion. Its operating units are:

Support Solutions, Electronic Solutions, Unmanned Systems (Hunt Valley, Maryland) Advanced Information Solutions (Austin, Texas) Geospatial Solutions (Sterling, Virginia) Lycoming Engines
Lycoming Engines
(Williamsport, Pennsylvania) Marine & Land Systems (Slidell, Louisiana) TRU Simulation & Training (Goose Creek, South Carolina) Weapon & Sensor Systems (Wilmington, Massachusetts): a maker of weapons and surveillance systems

bought and acquired AAI Corporation
AAI Corporation
in 2007, which has now evolved into the Support Solutions, Electronic Systems and Unmanned Systems business units mentioned above. AAI Corporation
AAI Corporation
has developed and fielded products such as the RQ-7B Shadow
RQ-7B Shadow
UAV and various ground control technologies such as the One System Ground Control Station (OSGCS) and the Universal Ground Control Station (UGCS).[citation needed] References[edit]

^ a b c d e f g "2015 Textron
Annual Report" (PDF). Textron. 2015. Retrieved 19 November 2016.  ^ a b c d e "History - Textron". textron.com. Retrieved August 10, 2016.  ^ Vartan, Vartanig G. (1963-04-17). "TEXTRON LEAVES TEXTILE BUSINESS; Sells Its Ameroton Division to Deering Milliken, Inc. Stock Eases by 1955 Mergers Recalled". The New York Times. ISSN 0362-4331. Retrieved 2016-09-08.  ^ Michael Brush, “The Sky’s No Limit for CEO Perks,” MSN Money (moneycentral.msn.com), October 17, 2007, citing Paul Hodgson, Up, Up, and Away: Personal Use of the Corporate Jet, The Corporate Library, September 4, 2007. ^ "About Textron: Leadership: Biography". Textron.com. Retrieved 2014-01-07.  ^ " Textron
buys Beechcraft
in $1.4 billion deal". kansas.com. Archived from the original on December 27, 2013. Retrieved April 28, 2017.  ^ " Textron
to buy Beechcraft
parent for $1.4bn". flightglobal.com. Retrieved April 28, 2017.  ^ AVweb Staff (26 December 2013). " Textron
Confirms Beech Acquisition". Avweb. Retrieved 27 December 2013.  ^ Niles, Russ (30 December 2013). " Textron
Fleshes Out Beech Deal". AVweb. Retrieved 30 December 2013.  ^ William Garvey (Dec 15, 2017). " Textron
Set For Busy New Year". Aviation Week & Space Technology.  ^ " Textron Aviation
Textron Aviation
acquires Able Engineering and Component Services - Vertical Magazine". Vertical Magazine. Retrieved 2017-07-21.  ^ " Textron
Is Buying Snowmobile Maker Arctic Cat". fortune.com. Retrieved April 28, 2017.  ^ "E-Z-GO Selected as Official Golf Car and Utility Vehicle of Universal Orlando". E-Z-GO press release. August 31, 2006.  ^ 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.  ^ Niles, Russ (1 December 2013). "Scorpion May Not Be Built By Cessna". Avweb. Retrieved 7 January 2014.  ^ a b " Textron
Completes Acquisition of Beechcraft". Textron. 14 March 2014. 

External links[edit]

Official website

Business data for Textron: Google Finance Yahoo! Finance Reuters SEC filings

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