Textron Inc. (TXT) Buys United Industrial Corporation (UIC)
Textron Inc. is buying United Industrial Corp. in a $1.1 billion deal that underscores its expectations for U.S. military reliance on unmanned aircraft.
The deal announced Monday would help Textron expand its aerospace and defense business.
United Industrial's AAI Corp. unit, based in Hunt Valley, Md., makes aerospace and defense systems including unmanned aircraft and ground control stations and counter-sniper devices.
Textron, a diversified conglomerate, owns Bell Helicopter and Cessna, and also makes golf carts, auto parts and surveillance systems.
In a conference call Monday, Textron chief financial officer Ted French said the company believed that the military would continue to rely on unmanned aircraft and vehicles, as it does currently in Iraq and Afghanistan.
The deal announced Monday would help Textron expand its aerospace and defense business.
United Industrial's AAI Corp. unit, based in Hunt Valley, Md., makes aerospace and defense systems including unmanned aircraft and ground control stations and counter-sniper devices.
Textron, a diversified conglomerate, owns Bell Helicopter and Cessna, and also makes golf carts, auto parts and surveillance systems.
In a conference call Monday, Textron chief financial officer Ted French said the company believed that the military would continue to rely on unmanned aircraft and vehicles, as it does currently in Iraq and Afghanistan.
Labels: Textron Inc., TXT, UIC, United Industrial Corporation
posted by Stock Administrator @ 7:35 PM
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