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Textron Systems Subsidiary Lands $142M in Army Logistics, Program Mgmt Contracts

AAI, a subsidiary of Textron (NYSE: TXT) Systems, has been awarded two potential one-year contracts worth $142.5 million combined to provide performance-based logistics and program management support for the U.S. Army’s Shadow drones. The first award is an indefinite-quantity/indefinite-delivery contract worth $110 million and the second firm-fixed-price contract is worth $32.5 …

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Textron 3Q Profit Up 9%, Revenue Down 7%

Textron (NYSE: TXT) — one of 30 companies listed on Executive Mosaic’s GovCon Index — has reported third quarter earnings of 63 cents per share to beat Wall Street’s expectations by 2 cents. The Providence, R.I.-based conglomerate and owner of military aircraft makers Bell Helicopter and Beechcraft posted $176 million …

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Brian Sinkiewicz Named Textron Systems SVP, Weapons & Sensors GM; Ellen Lord Comments

Brian Sinkiewicz, formerly vice president for precision weapons at Textron‘s (NYSE: TXT) systems segment, has been promoted to senior VP and general manager of weapon and sensor systems for the segment. Textron said Tuesday Sinkiewicz will also serve in the executive leadership team and report directly to Ellen Lord, president and CEO of Textron …

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Navy Awards Textron Subsidiary $581M Contract Modification for Helicopter, Fuel Kit Production

Textron‘s (NYSE: TXT) Bell Helicopter subsidiary has been awarded a three-year, $581.1 million contract modification to build UH-1Y Venom and AH-1Z Viper helicopters for the U.S. Marine Corps and Pakistani military. Bell Helicopter will produce and deliver a total of 35 utility and attack helicopter units along with 21 auxiliary …

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Daryl Madden Promoted to SVP, GM at Textron Systems’ Geospatial Solutions Business

Daryl Madden, formerly vice president of advanced systems at Textron Systems, has been promoted to senior VP and general manager of the Textron (NYSE: TXT) subsidiary’s geospatial solutions business. Madden will report to Textron Systems CEO Ellen Lord and oversee the business’ strategic growth initiatives, product development and implementation of customer …

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Reuters: Lockheed, Textron Final Bidders for UTC’s Sikorsky Helicopter Arm

United Technologies (NYSE: UTX) is mulling offers from Lockheed Martin (NYSE: LMT) and Textron (NYSE: TXT) to purchase UTC’s Sikorsky Aircraft subsidiary, Reuters reported Wednesday. Andrea Shalal and Mike Stone write UTC may reach a decision on the offers by the end of the month or could decide instead on a tax-free spinoff …

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Reuters: Textron Interested in Merger With Sikorsky

United Technologies Corp.‘s (NYSE: UTX) Sikorsky Aircraft subsidiary received a merger offer from Textron (NYSE: TXT) earlier this month, Reuters reported Tuesday. Reuters cites unnamed sources that say UTC is in the process of examining whether to spin off Sikorsky or merge the business with Textron through a tax-free transaction. …

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US Navy Orders Additional Landing Craft, Air Cushion Vehicles from Textron; Tom Walmsley Comments

Textron (NYSE: TXT) has received an $84, 087, 095 contract option from the U.S. Navy to build additional landing craft, air cushion vehicles. The company will produce crafts 102 and 103 at its New Orleans-based shipyard and deliver the vehicles in the fourth quarter of 2019 under the Navy’s Ship-to-Shore …

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Bill Irby: Textron Systems Unmanned Vessel to Support Naval Minesweeping

Textron‘s (NYSE: TXT) unmanned systems business will supply the U.S. Navy with its Common Unmanned Surface Vessel under a 30-month, $33.8 million contract as part of the service’s Unmanned Influence Sweep System program. The company’s Textron Systems division said Wednesday it will design, build and qualify the unmanned vessel and associated command-and-control software for …

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Textron Awarded $44M to Upgrade Joint Service Electronic Combat Systems Tester; Steve Mensh Comments

Textron (NYSE: TXT) subsidiary Textron Systems will recondition the U.S. military’s electronic combat systems tester under a four-year, $43.6 million contract. The company will update a majority of the 500 Joint Service Electronic Combat Systems Testers currently in use by military forces in the U.S. and overseas, Textron Systems said Tuesday. …

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