Fort Worth, TX - March 4, 2008 - Bell Helicopter, a Textron Inc. (NYSE: TXT) company, continues to find strong demand in the marketplace for its commercial products as sales to date this year maintain the healthy pace established last year. As of the first of this year, Bell's commercial product backlog stood at $1 billion. This figure is expected to increase by another $1 billion once the first production 429 completes its first flight late this year, enabling existing customer purchase agreements to move officially into backlog. Additionally another $400 million is expected to be added once deposits are received for the 84 purchase agreements signed at the Singapore Air Show and Heli-Expo in Houston in February.
Bob Fitzpatrick, Bell's vice president for Marketing and Sales stated, "Our participation at this year's Heli-Expo and the Singapore Air Show provides us with a focal point to not only showcase our commercial products, but to meet face-to-face with our customers and peers in the industry. We're very pleased with the feedback we are getting from our customers about what they see happening at Bell and with our products. Having the first pre-production 429 in our display at HAI showed our customers we are continuing to make steady progress on this game-changing aircraft."
At Heli-Expo, Bell had a large display that included the first pre-production 429 helicopter, the versatile 412 and ever popular 407. A considerable portion of the display also was devoted to customer support and service. In fact, customer support and service has been a market strength of Bell for many years, and with the recent acquisition of both McTurbine engine repair and overhaul capabilities and SkyBOOKS electronic log books, Bell is looking to expand its offerings in the service area.
Danny Maldonado, vice president of Commercial Business Development for Bell, remarked, "Our traffic volume at both shows was just phenomenal, and the feedback we received in conversations with our customers reaffirms that we have the right market strategy, the right products and services that our customers need to build their businesses. We firmly believe the future of Bell Helicopter has never looked brighter."
The full range of Bell's commercial products continues to sell well into the market segments of law enforcement (LE), off shore, emergency medical services (EMS) and corporate transport. Bell has identified these as particular focus areas for its helicopters.
About Bell Helicopter
Bell Helicopter is an industry-leading producer of commercial and military, manned and unmanned vertical lift aircraft and the pioneer of the revolutionary tilt rotor 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 $13.2 billion multi-industry company operating in 34 countries with approximately 44,000 employees. 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 Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Fluid & Power, Textron Systems and Textron Financial Corporation. More information is available at www.textron.com.
Forward-looking Information: Certain statements in this press release are forward-looking statements and 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 forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements, including but not limited to the following: (a) changes in worldwide economic and political conditions that impact demand for our products, interest rates and foreign exchange rates; (b) the interruption of production at Textron facilities or Textron's customers or suppliers; (c) the timing of new product launches and certifications of new aircraft products; (d) the occurrence of slowdowns or downturns in customer markets in which Textron products are sold or supplied; (e) changes in aircraft delivery schedules or cancellation of orders; (f) the launching of significant new products or programs which could result in unanticipated expenses; and (g) bankruptcy or other financial problems at major suppliers that could cause disruptions in Textron's supply chain.