Hello, Guest!
  • Wednesday, April 24, 2024

Textron Unit Buys Aviation Ground Support Firm TUG Technologies; Stefaan Ver Eecke Comments


acquisitionTextron (NYSE: TXT) a subsidiary of E-Z-GO has purchased aviation ground support equipment manufacturer TUG Technologies Corp. from private-equity firm Jacobson Partners for an undisclosed amount.

Kennesaw, Ga.-based TUG manufactures products including material handling vehicles and mobile heating and air-conditioning systems, in addition to providing aircraft ground services to commercial and government customers, E-Z-GO said Friday.

Kevin Holleran, president of E-Z-GO, said the company aims to expand its operations and create shareholder value through the acquisition.

“This acquisition connects TUG to a broad range of resources, technologies and capabilities that will power growth for our brand and enable us to introduce new products and services that drive our business forward, ” said Stefaan Ver Eecke, TUG vice president and general manager.

E-Z-GO became a business operating unit of Textron in 1960 and maintains a portfolio of golf cars, utility vehicles and ground support equipment.

Video of the Day

Related Articles

GE Board OKs Spinoff of Energy-Focused Business GE Vernova; GE Aerospace to Launch in April Industry News

GE Board OKs Spinoff of Energy-Focused Business GE Vernova; GE Aerospace to Launch in April

The board of directors of General Electric (NYSE: GE) has cleared the planned spinoff of its portfolio of energy businesses, which will operate under the name GE Vernova, and expects the new independent entity to kick off trading on the New York Stock Exchange on April 2 using the ticker symbol “GEV.” In July 2022,

Noble to Provide DLA Aviation Supply Chain Management Services Under $1.2B Contract Contract Awards

Noble to Provide DLA Aviation Supply Chain Management Services Under $1.2B Contract

The Defense Logistics Agency has awarded Noble Supply and Logistics a 10-year, $1.2 billion contract to provide aviation supply chain management services to U.S. military and foreign military sales customers.  Noble said Tuesday it will fulfill customer direct orders, replenish military retail stock and deliver hardware and abrasives items used as spare parts in multiple

Kevin Welsh to Discuss FAA’s Climate Agenda in Fireside Chat Events

Kevin Welsh to Discuss FAA’s Climate Agenda in Fireside Chat

Executive Mosaic’s flagship GovCon Wire will feature Kevin Welsh, executive director of the Federal Aviation Administration’s Office of Environment and Energy, in an upcoming virtual fireside conversation to overview the agency’s mission to address climate change within the aviation sector. The FAA unveiled in November its plan to implement policy measures to prepare sector infrastructure