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MarketScreener Homepage  >  Equities  >  Nyse  >  Textron Inc.    TXT

TEXTRON INC.

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Textron : Bell Delivers Montenegro Air Force's First Bell 505

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09/15/2020 | 10:15pm EDT

Bell Delivers Montenegro Air Force's First Bell 505

Fort Worth, TX (Sept. 15, 2020) Bell Textron Inc., a Textron Inc. (NYSE: TXT) company, announced today that the Montenegro Air Force accepted its first Bell 505. The technical acceptance occurred in July at Bell Prague. The delivery happened today in Montenegro and was accepted by Montenegro Air Force's Minister of Defence, Predrag Bošković. The second aircraft is expected to be delivered January 2021.

'We are proud to deliver Montenegro Air Force's first Bell 505,' said Duncan Van De Velde, Managing Director of Europe and Russia. 'The Bell 505 is renowned for delivering best-in-class value to our customers. Since the students already have knowledge of menu-driven avionics platforms, the 505s advanced avionics leads to better prepared pilots.'

These new aircraft will be used to train the Montenegrin military in the area. Bell provided training for three pilots with HeliDeal, a Certified Training Facility for 505 pilot training located in Southern France.

'We appreciate Bell being so flexible with the training process,' said Major Goran Senčić. 'The virtual training courses were easy to follow and effective in teaching us about the aircraft.'

The Bell 505 continues to have major success within Europe and other parts of the world. The aircraft includes a high-tech flight deck and adaptable cabin design making it extremely cost-competitive and capable for any challenge. With the latest integrated Garmin avionics suite and FADEC-controlled engine, the aircraft provides increased situational awareness and safety, allowing pilots to focus on training and reducing pilot workload. Additionally, the high inertia rotor system enables students to gain confidence in learning auto rotations.

'With the cost effectiveness and flexible cabin space, the Bell 505 is the best trainer aircraft on the market,' said Lt. Col. Bojan Blagojević, Commander of the Air Force, Armed Forces of Montenegro. 'This aircraft is a great addition to our fleet, and we look forward to working with Bell in the future.'

'Bell aircraft, which are unique in the Western Balkans, are the best choice for Montenegrin Armed Forces,' said Predrag Bošković, Minister of Defence, Montenegro Air Force. 'It will provide excellent training to our pilots and opportunities to perform various tasks, but perhaps the most important is supporting civil institutions.'

With a speed of 125 knots (232 km/h) and useful load of 1,500 pounds (680 kg), the Bell 505 is designed to be safe and easy to fly while providing significant value to the operator. The customer-driven design of the aircraft places safety, performance and affordability at the forefront, blending proven systems with advanced technology and a sleek, modern design.

The Bell 505s were manufactured by Bell Textron Canada at its facility in Mirabel, Quebec. The sale was facilitated by the Canadian Commercial Corporation (CCC) through a government-to-government contract. CCC supports the growth of international trade by helping Canadian exporters gain access to foreign government procurement opportunities, worldwide.

For more information, visit the Bell website.

Press Contact:

Grace Dieb
+1 817‐280‐5384
mediarelations@bellflight.com

###

ABOUT BELL

Thinking above and beyond is what we do. For more than 80 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 on-demand 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 Inc.

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, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, Textron Systems, and TRU Simulation + Training. For more information, visit: www.textron.com.

Certain statements in this press release may project revenues or describe strategies, goals, outlook or other non-historical matters; these forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update them. 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.

ABOUT CCC

The Canadian Commercial Corporation (CCC) supports the growth of international trade by helping Canadian exporters gain access to foreign government procurement opportunities, worldwide. Through a government-to-government contracting approach, CCC positions qualified Canadian exporters to win international contracts with governments abroad, while significantly reducing the risks associated with foreign procurement.

Through commercial advocacy, collaborative project development and foreign contracting expertise CCC helps Canadian exporters and foreign government buyers reduce procurement risk in key markets, including, information & communication technologies, cleantech, construction & infrastructure, aerospace, and defence & public safety.



Disclaimer

Textron Inc. published this content on 15 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2020 01:14:08 UTC


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Financials (USD)
Sales 2020 11 524 M - -
Net income 2020 223 M - -
Net Debt 2020 1 851 M - -
P/E ratio 2020 34,9x
Yield 2020 0,23%
Capitalization 8 025 M 8 025 M -
EV / Sales 2020 0,86x
EV / Sales 2021 0,76x
Nbr of Employees 35 000
Free-Float 99,4%
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Mean consensus HOLD
Number of Analysts 12
Average target price 39,58 $
Last Close Price 35,19 $
Spread / Highest target 27,9%
Spread / Average Target 12,5%
Spread / Lowest Target -0,54%
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NameTitle
Scott C. Donnelly Chairman, President & Chief Executive Officer
Frank T. Connor Chief Financial Officer & Executive Vice President
Kimberly A. Mackenroth Chief Information Officer & Vice President
Kathleen M. Bader Lead Independent Director
Paul Ernest Gagné Lead Independent Director
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