Textron
| Textron Inc.
|
|
|---|---|
 |
|
| legal form | Incorporated |
| ISIN | US8832031012 |
| founding | 1923 |
| Seat |
Providence ( United States )
 |
| management | Scott C. Donnelly (Chairman and CEO ) |
| Number of employees | 35,000 |
| sales | 13,423,000,000 US dollars |
| Branch | Conglomerate |
| Website | www.textron.com |
| As of January 2, 2016 | |
Textron Inc. is a US- American conglomerate based in Providence . The company is listed in the S&P 500 share index.
history
The origins of Textron go back to the Special Yarns Corporation in Boston , which was founded in 1923 by Royal Little, then 22 years old. At the start of World War II, the company was known as the Atlantic Rayon Corporation and won large parachute production orders. When military orders fell in 1943, more civilian products were manufactured and the company was renamed Textron .
In 1952 Little decided to diversify the business. In 1953 the company bought Burkart Manufacturing, a manufacturer of car seat upholstery. Over the next few years, Homelite, a chainsaw manufacturer , the automotive supplier CWC, which produced camshafts , among other things , and several other companies were acquired. In 1960 the helicopter manufacturer Bell Helicopter and the golf cart manufacturer EZ-GO were added . Little then retired and sales had grown to $ 383 million.
His successor G. William Miller continued the strategy. In 1963 the last textile company was sold. In the following years Textron u. a. the snowmobile manufacturer Polaris and the venture capital company American Research and Development. Miller resigned in 1977 after being named chairman of the Federal Reserve by Jimmy Carter . He later assumed the office of Secretary of the Treasury , the US Treasury Secretary.
In 1984 the attempt at a hostile takeover of the Textron group by the small holding company Chicago Pacific Corporation failed . To make such attempts more difficult in the future, Textron acquired the conglomerate AVCO in 1985 , a company similar to Textron itself. The company was now too big to be easily taken over. Since the company was heavily in debt, Textron lost its competitiveness and was forced to sell some smaller holdings.
In 1989 James Hardymon took over the management. Under him, the aircraft manufacturer Cessna was bought in 1992 , while many parts of the company that did not belong to the core business were sold. From now on Textron focused on aircraft, flight technology and automotive supplies. The merger of parts of the company resulted in larger group companies, including Textron Automotive Company and Textron Fastening Systems.
In Germany, the company Bauer & Schaurte Karcher (inventor of the Inbus system) belonged to the group from 1996 to 2006. In 1998 Textron took over the British company David Brown . At this point in time, Textron already had a turnover of 9.68 billion euros with 64,000 employees.
On March 6, 2017, Arctic Cat was taken over by Textron.
Business areas
Products
Today's sales come mainly from the aeronautical engineering sector, in particular from Bell Helicopter ( helicopters ), Textron Aviation ( aircraft ), Lycoming ( aircraft engines ) and the avionics manufacturer Textron Systems . Textron is also active in other industries; z. B. Textron Fastening Systems (today Acument ), Greenlee / Klauke (tools), EZ-GO ( golf carts ), Jacobsen ( lawn care ), Kautex Textron (automotive supplier) and Cushman , a manufacturer of small commercial vehicles and golf carts . Textron was also a manufacturer of cluster munitions .
Web links
Individual evidence
- ↑ a b c d Annual Report 2015
- ^ Textron Inc. Announces Acquisition of Arctic Cat Inc., a Leading Company in the Recreational Vehicle Industry , at www.textron.com , accessed August 3, 2017
- ↑ Textron Systems' BLU-108 submunition
- ↑ http://archive.defense.gov/Contracts/Contract.aspx?ContractID=5116
- ↑ Peter Winkler, Washington: Production of cluster bombs in the USA stopped. In: nzz.ch. September 3, 2016, accessed October 14, 2018 .