Textron.com
Textron
The company and its History
Based in Province, Rhode Island Textron was founded by Royal Little in the year 1923 as a textile company. The name of the company was then Special Yarns Company. The revenue of the company was only $75,000 in its first year. But, textile Industry saw a boom during the World War II bringing an era of prosperity and growth for textile companies. The name of the company was changed to Atlantic Rayon Corporation. The orders during the war were mostly of parachutes. As the World War II was nearing its end the company started facing challenges. But that didn’t unfazed Little who developed a vertically integrated company and quickly switched from making parachutes to clothing. The company was listed on NYSE in 1947 and the sales of the company reached approximately $68 million in the year 1949. The company faced another hardship in 1952 due to the decline in demand for textiles. He quickly realized the need to diversify the business and in 1953 bought its first non-textile company called Burkat Mfg. Co. Over the next few years the company steadily acquired new companies and built a conglomerate. But the diversification policy of Textron faced a test in the year 1958 when sales of the company declined. But that didn’t deter Textron from buying another firm called Bell Aerospace which mostly does government work. Bell still is a part of the company making golf cars.
Era of Acquisitions
Royal Little retired from the company in the year 1960, leaving the company with nearly $380 million yearly sales. The chairman post was taken over by Rupert Thompson, he together with President of the company G. William Miller took the company to new heights. Textron sold its last textile company in 1963. The company thrived in consumer product business during 60’s and 70’s and some of the important acquisitions during this period included Speidel, maker of watchbands, Sheaffer Pen, Staple and nail gun maker Bostich and Rhode Island silver company Gorham. Through 80’s the company’s management philosophy had no changes and the corporate office controlled the operations and business units worked independently. Textron acquired another company called Avco Corporation in 1985, doubling the size of the company.
Divestment and Consolidation
Under the chairmanship of James F. Hardymon who was appointed in 1989, the company divested its military contracts, insurance and consumer products to core business. They acquired more companies and invested in aircraft, automotives, industrial and finance business. They also went international and by 1997 the company had nearly doubled its international sales. The company began consolidating its companies in the year 1994, by consolidating six automotive companies into one division called Textron Automotive Company. Similarly Textron fastening Company was formed by combining five fastening companies which created the world’s largest company for the production of fastening products in the world. The company got its new CEO in 1998, Lewis B. Campbell who continued where his predecessors left. He proved his mettle by divesting Avco Financial Services, which was sold for whopping $3.9 billion. The company continued its divestment and consolidation process over the next few years, the most significant divestment being the fastening systems business, which the company divested in August of 2006 and ended its long tenure in fastening business.
What they do?
They make helicopters, aircrafts, gold carts and do commercial financing.
Companies
- Bell
- Bell Helicopter
- Textron Systems
- Lycoming Engines
- Cessna
- Cessna Aircraft Company
- Textron Financial Corporation
- Industrial
Products
- Bell Helicopters
- Bell 412EP Medium
- Bell 407 Light Single
- Bell 210
- V-22 Osprey Tiltrotor
- AH-1Z Attack Helicopter
- Textron Systems
- Textron Defense Systems - Textron Defense Systems (Wilmington, MA) [1] manufactures air launched weapons, smart submunitions, intelligent battlefield munitions and sensor systems, and ground and airborne surveillance systems. The Sensor Fuzed Weapon, smart anti-armor weapon, made its combat debut in Operation Iraqi Freedom where accounts of its successful use describe the destruction of multiple armored tanks with a single weapon.
- HR Textron - produces components and systems used throughout the world in fixed-, rotary-wing, and tilt-rotor aircraft; precision guided missiles and munitions, unmanned air vehicles, spacecraft, turbine engines and armored vehicles. Aerospace applications include primary, secondary, and utility flight control actuators and servovalves, as well as fuel management systems and pneumatic environmental control systems.
- Lycoming Engines
- Textron Marine & Land - Manufactures specialty marine craft such as the Motor Life Boat for the U.S. Coast Guard and the Landing Craft Air Cushion for the U.S. Marine Corps. In addition, they produce Cadillac Gage™ [5] gun turrets and armored vehicles, including the M1117 Armored Security Vehicle (ASV) that continues to play an important role in military operations in Iraq.
- Lycoming Selected Products
- General Aviation Piston Engines
- "Zero-Time" Rebuilt Engines
- Factory Overhauled Engines
- Cylinder Kits
- Lycoming Replacement Parts
- Cessna Aircraft Company
- Citation Mustang
- Citation X
- Caravan
- Single Engine Piston Aircraft
- Cessna Customer Service
- Industrial
- E-Z-GO(golf cars and utility vehicles)
- Greenlee(wire and cable installation tools)
- Jacobsen(lawn care products)
- Kautex(plastic fuel systems)
- Fluid & Power Group
- Textron Financial Products
- Asset-Based Lending
- Aviation Finance
- Distribution Finance
- Golf Finance
- Resort Finance
How big are they?
The company had revenue of $12.59 billion in the year 2007 making it the 194th company in the Fortune 500 Company’s 2007 list. The profit of the company stood at $601 million. The asset base of the company is $17.55 billion and a market value of $11.6 billion as of March 23, 2007.
About the Website
The Homepage
The company has a very futuristic and eye catching homepage. The homepage has everything that a visitor is looking for. The homepage is primarily classified into following sections: About Textron, Textron Businesses, Newsroom, Investor Relations and Careers.
About Textron Page
This page tells the visitors about the company, its history, its vision and strategy, their commitment to offer superior and quality products, their leadership team and their code of corporate governance which tells about their ethical code, guidelines and policies etc.
Textron Businesses Page
If the visitor is looking to find what business Textron does? This is the place to find. The company is mainly into making helicopters, aircrafts, gold carts and financing business.
Newsroom Page
This page provides the latest news about the company. The news is classified according to different companies of Textron. The visitors can also sign up to get automatic news alerts via email.
Investor Relations Page
For those who are looking to invest in company’ stocks this page provides the information. It provides the financial history of the company and the current prices of their stocks.
Careers Page
The company has more than 40,000 employees and who doesn’t want to be a part of this business giant. The page provides the facility to search current openings in the company and can also apply to them online. The page also provides tips on making a good resume and the benefits of working at the company.
Website Rank
The website has a traffic rank of 258,408 which occupies 0.00065% of the total internet traffic.
Languages
English
Address
World Headquarters
- General Inquiries
- 40 Westminster Street
- Providence, RI 02903
- U.S.A
Contact
- Textron, Inc
-
- +1(401)421-2880, Fax: +1 401 457 3546
References
- 1. http://textron.com
- 2. http://alexa.com
- 3. http://wikipedia.org
- 4. http://finance.yahoo.com
- 5. http://forbes.com
- 6. http://money.cnn.com/magazines/fortune/fortune500/2007/full_list/index.html
Additional Information
Related Domains
External Links
- Stock: TXT
- Alexa: Textron.com
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