Textron Marine & Land Systems to Deliver 80 Armored Vehicles to Iraqi Federal Police

June 01, 2010

NEW ORLEANS, Jun 01, 2010 (BUSINESS WIRE) --Textron Marine & Land Systems, an operating unit of Textron Systems, a Textron Inc. (NYSE: TXT) company, today announced it has been engaged to build 80 armored military vehicles for the Iraqi Ministry of Interior for use by the Iraqi Federal Police, to be contracted through the U.S. Army Foreign Military Sales (FMS) process. The total value of the procurement is approximately $84.7 million.

Of the 80 vehicles, 72 will be configured as Armored Personnel Carriers (APC), while the remaining eight will be in the standard U. S. Army M1117 Armored Security Vehicle (ASV) configuration employed as Command and Control vehicles. All of the vehicles to be delivered under this contract will be equipped with the Textron Marine & Land Systems 40/50 turret armed with an MK-19 40mm grenade launcher and .50 caliber machine gun. A total of 184 vehicles (122 ASV and 62 APC) built by Textron Marine & Land Systems have already been delivered to Iraq under previous procurements.

"These vehicles will be a great addition to the significant number of Textron Marine & Land Systems armored vehicles already in use by the Iraqi Ministry of Interior. The ASV has demonstrated its outstanding combat effectiveness in meeting expanding roles and missions in Iraq, while proving to be safe and reliable," said Textron Marine & Land Systems General Manager Tom Walmsley. "The workforce at Textron Marine & Land Systems takes a great deal of pride in producing vehicles that defend and protect our U.S. troops as well as our allies. That same commitment is extended to providing highly mobile and well protected vehicles to the Iraqi forces."

The ASV is a 4X4 wheeled armored vehicle that offers significant crew protection through the employment of multiple layers of armor, defending against small arms fire, artillery projectile fragments, Improvised Explosive Devices (IEDs) and land mines. The ASV possesses superior mobility, agility, handling and ride quality through the utilization of a four-wheel independent suspension system. Textron Marine & Land Systems has designed and produced more than 2,600 ASV and APC vehicles for the U.S. Army, Iraq, Colombia and Bulgaria.

About Textron Marine & Land Systems

Textron Marine & Land Systems specializes in the design, production and support of advanced marine craft, armored combat vehicles, turrets and related subsystems. Textron Marine & Land Systems serves military and commercial customers domestically and internationally, and has products operating in more than 35 countries worldwide. Textron Marine & Land Systems is an operating unit of Textron Systems, a Textron Inc. company. More information is available at http://www.textronmarineandland.com/.

About Textron Systems

Textron Systems Corporation has been providing innovative solutions to the defense, homeland security and aerospace communities for more than 50 years. Known for its unmanned aircraft systems, advanced marine craft, armored vehicles, intelligent battlefield and surveillance systems, intelligence software solutions, precision smart weapons, piston engines, test and training systems, and total life cycle sustainment services, Textron Systems includes AAI Corporation, Lycoming Engines, Overwatch, Textron Defense Systems and Textron Marine & Land Systems. Textron Systems Corporation is an indirect wholly owned subsidiary of Textron Inc. More information is available at http://www.textronsystems.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 Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at http://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) changes in vehicle delivery schedules or cancellation of orders; (c) changes in national or international funding priorities, U.S. and foreign military budget constraints and determinations, and government policies on the export and import of military and commercial products; (d) legislative or regulatory actions impacting defense operations; (e) performance issues with key suppliers, subcontractors and business partners; and (f) bankruptcy or other financial problems at major suppliers that could cause disruptions in Textron's supply chain.

SOURCE: Textron

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