Textron Specialized Vehicles Acquires Douglas Equipment
January 13 2015 - 2:21PM
Business Wire
The Textron Specialized Vehicles group of Textron Inc. (NYSE:
TXT), through Textron Ground Support Equipment UK Limited, has
acquired the Douglas Equipment business from Curtiss-Wright Flow
Control (UK) Limited, a subsidiary of Curtiss-Wright Corporation.
Douglas Equipment is a manufacturer of ground support equipment
(GSE) in the aviation industry, based in Cheltenham, England,
UK.
Going forward, Douglas Equipment will operate as part of Textron
Specialized Vehicles’ companies’ GSE business, which also includes
TUG Technologies Corp., a leading manufacturer of ground support
equipment based in Kennesaw, Ga. Douglas Equipment is a strong fit
for the Textron Specialized Vehicles group, as Douglas’
specialization in towbarless and conventional aircraft tractors and
runway friction measurement systems complements TUG Technologies’
leadership in baggage and tow tractors, pushbacks, belt loaders,
ground power units, air-starts, and mobile HVAC units.
Douglas will continue to operate from its UK facilities in
Cheltenham and Poyle, United Kingdom with its workforce of more
than 90 employees intact. The Douglas brand will join the Textron
Specialized Vehicles companies’ stable of brands alongside TUG™,
E-Z-GO®, Cushman®, and Bad Boy® Buggies.
“We are excited to welcome Douglas to the Textron Specialized
Vehicles family and to our ground support equipment business,” said
Kevin Holleran, president of the Textron Specialized Vehicles group
of Textron Inc. “The acquisition of Douglas and its unique brand
and products, only a few months after our acquisition of TUG last
spring, demonstrates our commitment to the GSE industry and our
many customers.”
“Douglas brings to the Textron Specialized Vehicles group a
strong European base, pioneering product lines, and a proven track
record in the GSE industry,” said Stefaan Ver Eecke, vice president
and general manager, GSE for Textron Specialized Vehicles. “Those
advantages, combined with Textron’s resources and operational
expertise, make for an exciting future to help accelerate our
growth and expansion in the GSE sector.”
About Textron Specialized Vehicles
The Textron Specialized Vehicles group of Textron Inc. is a
leading global manufacturer of golf cars, utility and personal
transportation vehicles, and ground support equipment. Textron
Specialized Vehicles companies design and manufacture products
under the E-Z-GO®, Cushman®, Bad Boy® Buggies and TUG™ brands;
their vehicles are found in environments ranging from golf courses
to factories, airports to planned communities, and theme parks to
hunting preserves.
About Textron Inc.
Textron Inc. is a multi-industry company that leverages its
global network of aircraft, defense, industrial, and finance
businesses to provide customer with innovative solutions and
services. Textron is known around the world for its powerful brands
such as Bell Helicopter, Textron Aviation, Beechcraft, Hawker,
Cessna, Jacobsen, Kautex, Lycoming, Textron Specialized Vehicles,
Greenlee, and Textron Systems. For more information, visit
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.
Textron Inc.Investor Contacts:Doug Wilburne,
401-457-2288orRobert Bridge, 401-457-2288orMedia
Contact:David Sylvestre, 401-457-2362
Textron (NYSE:TXT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Textron (NYSE:TXT)
Historical Stock Chart
From Apr 2023 to Apr 2024