Bell Helicopter to Expand Facilities in Piney Flats, TENN

December 20, 2012

Fort Worth, TX - Dec. 20, 2012 - Bell Helicopter, a Textron Inc. company (NYSE: TXT), announced today it will expand its completion and customer delivery facilities located in Piney Flats, Tenn. This announcement represents a $10.1 million investment by Bell Helicopter and was achieved through collaboration with the State of Tennessee and Sullivan County. The expansion is anticipated to create up to 125 jobs.

 

"We continue to see a growing demand for commercial helicopters, and Bell Helicopter's anticipated production requirements are outpacing the size of our current facility in Piney Flats," said Eric Cardinali, executive vice president, Customer Support and Services for Bell Helicopter. "Expanding our existing facility allows us to implement new technologies and processes to ensure a high quality customization and delivery process for our customers."

 

The expansion includes the purchase of a 150,000 sq. ft. building located just west of the Bell Helicopter Piney Flats facility. The new building will accommodate customizing and completions of light and medium aircraft, and will also house supporting back shops and shipping and receiving operations.

 

"We are pleased to work with Sullivan County and the state of Tennessee on this project," said Cardinali. "The quick response from both the county and the state helped solidify our decision to expand in Piney Flats."

 

"Our Jobs4TN strategy makes expanding businesses in Tennessee a priority in our efforts to grow jobs, and I want to congratulate Bell Helicopter on the news of their additional investment in Piney Flats," said Tennessee Gov. Bill Haslam. "We are thankful to have strong companies like Bell Helicopter continuing to grow in our state."

 

"I am pleased to be a part of this announcement today and to share the news that Bell Helicopter is bringing more jobs to the state of Tennessee," said Bill Hagerty, Economic and Community Development Commissioner. "Helping Tennessee businesses expand right here in our state has been a core focus of recruitment and announcements like this one indicate the effectiveness of our economic development strategy. This is another high-profile example of business expansion in Tennessee even as the broader economy remains challenged."

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, the risk that Bell's demand for production requirements of its commercial helicopters will not develop as it anticipates; changes in worldwide economic or political conditions that impact demand for our products; difficult conditions in the financial markets which may adversely impact our customers' ability to fund or finance purchases of our products; and volatility in the global economy resulting in demand softness or volatility in the markets in which we do business.

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