Textron Inc.

John Wolz

2001 Revenue$12.3 billion
2000 Revenue $13.090 billion
2001 Closing Price41.46
2000 Closing Price46.50

The Textron Fastening Systems segment of announced a major reorganization and new management team early in 2002, creating four global business units.
Previously Textron Fastening was divided into three groups: automotive, commercial and advanced solutions.
Fastening CEO Jake Hirsch declared the Troy, MI-headquartered division intends to �aggressively pursue new business where there are clear growth prospects in high-potential markets.� Those markets include electronics and aerospace.
During 2001 Textron Fastening sold its DIY business to Fastenal.
Textron Fastening revenues were $1.68 billion for 2001, providing 13% of Providence, RI-based Textron Inc.�s revenue. Half of the fastener revenue comes from the U.S.; Europe, 36%; Canada, 5%; Asia Pacific 5%; and South America, 4%.
There are 12,000 TFS employees, and there are plants in 12 countries.
Textron Fastening caught the attention of the fastener industry with its 1999 acquisition of Flexalloy Inc. Flexalloy�s automotive customer list and distribution experience have positioned Textron for more automotive business as automakers cut the number of fastener suppliers and look for logistics services.
TFS� major brands include: Avdel, Cherry, Camcar, Elco, Boesner, S�kosim and Oelschl�ger.

Headquarters: 40 Westminster St., P.O. Box 878, Providence, RI 02903-2596. Tel: 401 421-2800 Fax 401 457-3598
Web: textron.com and textronfasteningsystems.com
NYSE Symbol: TSX
CEO: Lewis Campbell
Investor Relations: Mary Lovejoy, 401 457-2288.
Key fastener executives: Jake Hirsch, Textron Fastening Systems president; Dominick Schiano, fastening executive vice president, Threaded Fasteners; George Wack, interim executive VP, Engineered Products; Bev Arnold, executive VP, Blind Fasteners; and Bob MacDonald, executive VP, Automation Systems.
Employees: 51,000
Percentage of revenue from fastener-related products: 13% \�2002 FastenerNews.com