Fort Worth, TX - October 11, 2013 - While at the 2013 Aviation Expo China, Bell Helicopter, a Textron Inc. company (NYSE: TXT), announced it had reached agreement with its independent representative, Reignwood Investment, Ltd. (Reignwood) for the purchase of 12 Bell helicopters, including 10 Bell 407 and two Bell 429 aircraft. In addition to this agreement, Bell Helicopter also entered in to a Memorandum of Understanding (MOU) with Reignwood to explore future business opportunities in the growing China market.
The MOU permits the two parties to explore potential opportunities to collaborate and grow the Chinese helicopter market. While specifics are not defined in the MOU, discussion and collaboration could occur in areas such as sales and marketing, service and support, training, reassembly, completions or customizing for Reignwood's approved territory. Contrary to inaccurate media reports, the MOU does not include a commitment for the purchase of additional aircraft or the creation of a Bell Helicopter manufacturing site in China.
"We are pleased that Bell Helicopter and Reignwood have reached an agreement to further discussions regarding growth opportunities in the Chinese market," said Chris Jaran, managing director, China. "Reignwood will serve as a key resource for Bell Helicopter in this region as we continue to grow our global presence."
Founded in 1984 as a general trading, real estate development and tourism organization, Reignwood Investments quickly grew to become a multinational company expanding its investments into key growth industries such as aviation, energy and mining, financial services, real estate and consumer goods.
About Bell Helicopter
Bell Helicopter, a wholly owned subsidiary of Textron Inc., is an industry-leading producer of commercial and military, manned and unmanned vertical-lift aircraft and the pioneer of the revolutionary tiltrotor aircraft. Globally recognized for world-class customer service, innovation and superior quality, Bell's global workforce serves customers flying Bell aircraft in more than 120 countries.
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 Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at 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, including but not limited to changes in aircraft delivery schedules or cancellations or deferrals of orders and difficult conditions in the financial markets which may adversely impact our customers' ability to fund or finance purchases of our products.
Contact
Sara Monger
817-280-3100
mediarelations@bh.com
Online Media Kit | Facebook | Twitter | YouTube