Orlando, FL - October 5, 2008 – Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, has gained corporate approval to build a new European Citation Service Center in Spain to keep ahead of the growing fleet demands in the region. The Spanish facility will complement the Citation Service Center operating at Le Bourget Airport outside Paris since 1997.
“We have almost 900 Citations in Europe and the number grows every month, so we need the additional capacity to continue to provide the high quality service our customers are used to getting,” said Mark Paolucci, senior vice president, Customer Service for Cessna. “We conducted an extensive location search before deciding on Spain, and we are very pleased with the cooperation from Spanish authorities.”
Paolucci said Cessna and Aeropuertos Españoles y Navegación Aérea (AENA) in Madrid have signed a letter of intent to develop a site in Spain and are working on specific details toward a final contract.
“We see this as a key step in a dynamic effort to take our service for our European operators to the next level,” Paolucci said.
Cessna hopes to break ground on the new facility in 2009 and begin operations there in late 2010.
Cessna’s current Citation service network spans the globe with 10 company-owned service centers and more than two dozen authorized service centers.
About Cessna Aircraft Company
Based on unit sales, Cessna Aircraft Company is the world's largest manufacturer of general aviation airplanes. In 2007, Cessna delivered 1,272 aircraft, including 387 Citation business jets, and reported revenues of about $5 billion. Cessna has a current backlog of $16 billion through June 30, 2008. Since the company was originally established in 1927, some 191,000 Cessna airplanes have been delivered around the world, including more than 5,400 Citations, making it the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at http://www.cessna.com.
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, defense and intelligence, 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 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 our facilities or at our suppliers’ facilities; [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 our 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; [g] changes in national or international government policies on the export and import of commercial products; and [h] bankruptcy or other financial problems at major suppliers that could cause disruptions in our supply chain.