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March 14, 2014
10:22 EDTTXTTextron completes acquisition of Beechcraft
Textron announced it has closed its acquisition of Beech Holdings, the parent of Beechcraft Corporation, and that it will bring together its Cessna business and Beechcraft to form a new segment called Textron Aviation. Cessna and Beechcraft together produced about $4.6B in revenues during 2013. Under the terms of the transaction, Textron purchased all outstanding equity interests in Beech Holdings for approximately $1.4B in cash. Textron financed the purchase of the equity as well as the repayment of Beechcraft’s working capital debt through a combination of available cash, the issuance of $600M in senior notes and drawing $500M under a new five-year term loan.
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October 5, 2015
14:43 EDTTXTTextron Systems awarded $17.4M contract from U.S. Army
Textron Systems Marine & Land Systems, a Textron business, announced it has been awarded a $17.4M Interim Contractor Training Support contract from the United States Army Tank-Automotive and Armaments Command to provide next-level training to the Afghan National Army for its four-wheeled Mobile Strike Force Vehicles. The contract has a 12 month period of performance. 621 MSFVs, based on Textron Systems' COMMANDO Select armored vehicle line, have been delivered to the Afghan National Army since 2012, with over 550 of these vehicles actively engaged in security operations in strategic locations across the country. The ICTS contract calls for the Textron Systems in-country team to provide on-the-job training and mentorship, enabling ANA personnel to perform detailed maintenance and repair actions to sustain its MSFV inventory. In addition to OJT vehicle repair and maintenance training, Textron Systems will continue mentoring and training the ANA on inventory and supply system activities, as well as developing and delivering program instruction manuals.
September 28, 2015
14:18 EDTTXTTextron business awarded $56.2M contract from U.S. Army
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