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TEXTRON INC.

(TXT)
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Real-time Estimate Cboe BZX  -  10:33 2022-12-05 am EST
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Textron : Bell Selects Sierra Nevada Corporation for its High-Speed Vertical Takeoff and Landing Development Team

09/19/2022 | 01:30pm EST

Teaming agreement signed to add mission systems support for new Bell aircraft development

National Harbor, MD (Sept. 19, 2022) - Bell Textron Inc., a Textron Inc. (NYSE: TXT) company, announced today it has entered into a teaming agreement with Sierra Nevada Corporation (SNC), a global aerospace and national security company, for Bell's High-Speed Vertical Takeoff and Landing (HSVTOL) aircraft. As part of the collaboration, SNC will specifically support the design and development of mission systems for HSVTOL variants.

Bell's HSVTOL vehicles blend the hover capability of a helicopter with the speed, range and survivability features of fighter aircraft, with low downwash hover capability and jet-like speeds of more than 400 kts. This family of scalable aircraft concepts is designed to carry out USAF and USSOCOM missions across the full spectrum of conflict and political scenarios, including personnel recovery, contested logistics and ISR/Strike.

"In an effort to advance technical maturity and deliver HSVTOL capability to warfighters sooner, Bell is assembling a team of industry-leading partners. We're thrilled to have SNC onboard," said Jason Hurst, vice president, Innovation, Bell. "We've made significant progress in Bell's HSVTOL technology development in 2022, and we look forward to showing this progress in the upcoming year."

"SNC is delighted to join the Bell's HSVTOL development team, and we are already hard at work to deliver the visionary mission systems that Bell demands for their visionary aircraft," says Derek Hess, vice president, strategic program business development at SNC. "Our nation's warfighters will benefit from this HSVTOL program's ground-breaking operational capabilities."

Similar to Bell's innovation development, SNC continues to leverage its mission systems expertise to explore dynamic new opportunities. SNC also supports Bell with additional mission systems expertise for the development of the Bell 360 Invictus for the U.S. Army's Future Attack Reconnaissance Aircraft (FARA) competition.

Bell is currently executing its HSVTOL risk reduction effort and participating in the AFWERX HSVTOL Concept Challenge, a crowdsourcing effort for the United States Air Force (USAF) and United States Special Operations Command (USSOCOM). Bell is one of 11 companies from more than 200 challenge entrants selected to receive market research investments aimed at advancing HSVTOL technology.

###

Bell Press Contact
Bell
Alexis Baird
817-487-1020
mediarelations@bh.com
Bell Newsroom

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, 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 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, the efficacy of research and development investments to develop new products or unanticipated expenses or delays in connection with the launching of significant new products or programs; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; and performance issues with key suppliers, subcontractors or business partners.

About SNC
SNC is a trusted leader in innovative, advanced technology solutions and open architecture integrations in aerospace and national security. Best known for its unique mission applications, SNC creates customized solutions for the world's most pressing technology challenges in the fields of aviation, national security space, electronic warfare, command and control, mission systems and inline cybersecurity. SNC is owned by Chairwoman and President Eren Ozmen and CEO Fatih Ozmen, and is once again recognized as a US Best Managed Company by Deloitte Private.

In spring 2021, SNC announced the transition of its Space Systems business area to an independent commercial space company, Sierra Space.

Disclaimer

Textron Inc. published this content on 19 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 September 2022 17:29:00 UTC.


ę Publicnow 2022
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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
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Frank T. Connor Chief Financial Officer & Executive Vice President
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