Textron Inc. said its board approved a restructuring related to company plans to the discontinue production of a sensor-fuzed weapon product and roll its Jacobsen turf-maintenance brand into its specialized vehicle business.

The maker of aviation, defense and industrial products said the restructuring is expected to include job cuts and the consolidation of some of its operations.

Textron said the streamlining will mostly affect its Textron systems and industrial segments, which last year generated combined revenue of $5.06 billion, or roughly 38% of the company's total revenue.

Beyond saying it expects to substantially complete the revamp by March, the company didn't provide details in its regulatory filing. A Textron spokesman wasn't immediately available to comment.

Textron expects to post restructuring charges of $110 million to $140 million, mostly in the third quarter. The charges include severance and related expenses of $40 million to $55 million, contract-termination and facility-closure charges of $25 million to $30 million and asset write-downs of $45 million to $55 million.

Textron, known for its Bell helicopters and Cessna and Beechcraft airplanes, said it is discontinuing production of the sensor-fuzed weapon products as the result of reduced orders. The company also said the current political environment has made it difficult to acquire needed U.S. government regulatory approvals to sell the products to foreign military and commercial customers.

According to its website the company has a global workforce of roughly 35,000.

Write to Tess Stynes at tess.stynes@wsj.com

(END) Dow Jones Newswires

August 30, 2016 18:35 ET (22:35 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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