Providence, RI - June 13, 2005 - In a move to continue the expansion of its helicopter service and support capabilities, Bell Helicopter, a unit of Textron Inc. (NYSE: TXT), today announced that it has acquired the maintenance and overhaul assets of US Helicopter, Inc., a privately-held company providing depot-level maintenance and upgrade installations for a variety of Bell's government products. Terms of the transaction were not disclosed.
"This acquisition is a natural fit with Bell's strategy to further advance our after-market service and support offerings - particularly in critical growth areas such as military and homeland security," said Mike Redenbaugh, chief executive officer of Bell Helicopter. "We plan to use the well-established capabilities at US Helicopter to expand our service to our government customers and to support our proposed offerings for the U.S. Army's Light Utility Helicopter (LUH) and Armed Reconnaissance Helicopter (ARH) programs."
US Helicopter assets will be integrated into Bell Helicopter's government support affiliate, Bell Aerospace Services, Inc., which provides logistics and maintenance services for customers. "The US Helicopter workforce brings vast military helicopter servicing expertise, primarily in the areas of Huey maintenance and Huey II conversion services for the U.S. Army," said Mike Prieto, president of Bell Aerospace Services. "This move also puts us even closer to our customers as the plant is located adjacent to Fort Rucker - the center for Army Aviation."
Bell Helicopter, a subsidiary of Textron Inc., is a $1.6 billion, leading producer of commercial and military helicopters, and the pioneer of the revolutionary tiltrotor aircraft. Globally recognized for customer service, innovation and superior quality, Bell's global workforce of over 7,500 employees serves customers flying Bell aircraft in over 120 countries.
Textron Inc. is a $10 billion multi-industry company with 44,000 employees in 40 countries. The company leverages its global network of aircraft, 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, Jacobsen, Kautex, Lycoming, E-Z-GO and Greenlee, among others. More information is available at www.textron.com.