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TEXTRON INC.

(TXT)
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Delayed Nyse  -  04:04 2022-12-02 pm EST
71.30 USD   +0.62%
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Bell Textron Canada to Contribute $500,000 to the First Nations Technical lnstitute; Funds to be used to rebuild aviation program following devastating fire

09/27/2022 | 10:34am EST

Tyendinaga Mohawk Territory - Bell Textron Canada Ltd, a Textron Inc. (NYSE:TXT) company, announced on September 23 a $500,000 (CAD) contribution to the FNTI (First Nations Technical Institute).

The funds will be used to support skills development and training resources for FNTI's Indigenous flight students. It will also support uninterrupted flight training to ensure student success across FNTI's three-year advanced diploma program, following a fire that destroyed the school's aviation hangar, including its entire fleet of training aircraft, at the Tyendinaga Mohawk Territory Airfield in February.

'Creating meaningful opportunities for Indigenous students is key to building better outcomes', said the Honourable Francois-Philippe Champagne, Minister of Innovation, Science and Industry. 'Through Canada's Industrial and Technological Benefits Policy, this contribution from Bell Textron Canada will provide Indigenous students with financial support to access the training they need to pursue exciting career opportunities in the aerospace sector and will benefit the aerospace sector as a whole by helping to develop even more world-class Canadian talent.'

'We were saddened to learn of such tragic events and quickly reacted to support skills development and training resources for commercial pilots to fly in remote Indigenous communities,' said Steeve Lavoie, president of Bell Textron Canada Ltd. 'Our financial support will help students continue their training off campus during this phase of rebuilding, and pay for their expenses associated with advanced training, aircraft rental, transportation, accommodations at off-campus locations and student support services. With this contribution, we hope to establish a strong relationship with the FNTI and their First Peoples' Aviation Technology Program.'

'The loss of our hangar, Approved Maintenance Organization dispatch and planes in a fire in February was devastating for FNTI and our aviation students, who come from urban and remote communities across Canada,' said Suzanne Brant, president of FNTI. 'We are fortunate to have resilient staff who pivoted to provide students with training options, ensuring minimal program interruption. Generous support from Bell will provide FNTI students with continued on-site and off-site training, and student support services. The aerospace sector stepped up and offered much-needed contributions toward maintaining uninterrupted pilot training. FNTI looks forward to continued relationship building with Bell.'

The FNTI Aviation program is the only training program of its kind in Canada, with an enrollment of 53% Indigenous women. With this financial support, Bell is investing in the economic and social livelihood of Indigenous communities addressing Canada's critical pilot shortage and increasing Indigenous representation in the aerospace sector.

Press Contact:

Patricia Bergeron

+1 514-242-4213

pbergeron@bellflight.com

About Bell

Thinking above and beyond is what we do. For more than 85 years, we've been reimagining the experience of flight - and where it can take us.

We are pioneers. We were the first to break the sound barrier and to certify a commercial helicopter. We were a part of NASA's first lunar mission and brought advanced tiltrotor systems to market. Today, we're defining the future of advanced air mobility.

Headquartered in Fort Worth, Texas - as a wholly-owned subsidiary of Textron Inc., - we have strategic locations around the globe. And with nearly one quarter of our workforce having served, helping our military achieve their missions is a passion of ours.

Above all, our breakthrough innovations deliver exceptional experiences to our customers. Efficiently. Reliably. And always, with safety at the forefront.

About Textron

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Pipistrel, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, and Textron Systems. For more information, visit: www.textron.com.

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, changes in aircraft delivery schedules or cancellations or deferrals of orders; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; changes in government regulations or policies on the export and import of our products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; volatility in interest rates or foreign exchange rates; and risks related to our international business, including establishing and maintaining facilities in locations around the world and relying on joint venture partners, subcontractors, suppliers, representatives, consultants and other business partners in connection with international business, including in emerging market countries.

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2022 12 879 M - -
Net income 2022 863 M - -
Net Debt 2022 1 535 M - -
P/E ratio 2022 17,8x
Yield 2022 0,12%
Capitalization 14 885 M 14 885 M -
EV / Sales 2022 1,27x
EV / Sales 2023 1,18x
Nbr of Employees 33 000
Free-Float -
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Last Close Price 71,30 $
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Scott C. Donnelly Chief Operating Officer & Executive Vice President
Frank T. Connor Chief Financial Officer & Executive Vice President
Kimberly A. Mackenroth Chief Information Officer & Vice President
E. Robert Lupone Secretary, Chief Compliance Officer & Executive VP
Kathleen M. Bader Independent Director
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