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MarketScreener Homepage  >  Equities  >  Nyse  >  Textron Inc.    TXT

TEXTRON INC.

(TXT)
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Textron : to Sell TRU Simulation + Training Canada to CAE

11/25/2020 | 06:01am EST

Textron Inc. (NYSE: TXT) today announced that its TRU Simulation + Training Inc. subsidiary has reached a definitive agreement to sell certain of its non-U.S. businesses to CAE Inc., a global high-technology leader in training for civil aviation, defense and security, and healthcare, for a cash consideration of US$40 million, excluding post-closing adjustments.

Included in the transaction is the sale of TRU Simulation + Training Canada Inc., which includes its Montreal manufacturing operations, as well as ETOPS entities in France and Malaysia and a minority interest in a joint venture in Iceland. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close during the 4th Quarter of 2020 or early 2021. The businesses being sold by Textron operate as part of the Textron Systems segment. TRU Simulation + Training Inc. and its operations in Tampa, Florida, which remain focused on the development of simulators for Textron Aviation and rotorcraft platforms, are not included in the sale.

About CAE

CAE is a high technology company, at the leading edge of digital immersion, providing solutions to make the world a safer place. Backed by a record of more than 70 years of industry firsts, we continue to reimagine the customer experience and revolutionize training and operational support solutions in civil aviation, defence and security, and healthcare. We are the partner of choice to customers worldwide who operate in complex, highstakes and largely regulated environments, where successful outcomes are critical. As a testament to our customers’ ongoing needs for our solutions, over 60 percent of CAE’s revenue is recurring in nature. We have the broadest global presence in our industry, with approximately 10,000 employees, 160 sites and training locations in over 35 countries. www.cae.com

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

Certain statements in this press release may 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, including, but not limited to, delay in the timing of completion of the transaction; the inability to complete the transaction due to the failure to receive required regulatory or other approvals or to satisfy other conditions; difficulties or unanticipated expenses in connection with the consummation of the transaction; and the risk that the transaction disrupts current plans and operations.


© Business Wire 2020
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Financials (USD)
Sales 2020 11 415 M - -
Net income 2020 287 M - -
Net Debt 2020 1 390 M - -
P/E ratio 2020 39,8x
Yield 2020 0,16%
Capitalization 11 359 M 11 359 M -
EV / Sales 2020 1,12x
EV / Sales 2021 0,99x
Nbr of Employees 32 200
Free-Float 99,4%
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Technical analysis trends TEXTRON INC.
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 12
Average target price 47,33 $
Last Close Price 49,63 $
Spread / Highest target 20,9%
Spread / Average Target -4,63%
Spread / Lowest Target -23,4%
EPS Revisions
Managers and Directors
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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