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BUSINESS
By Bloomberg News | April 10, 2009
Shares of Textron Inc., the owner of Hunt Valley-based defense contractor AAI Corp., rose almost 50 percent Thursday after Kuwait's Al-Watan newspaper reported that a United Arab Emirates group is preparing to buy the maker of Cessna aircraft and Bell helicopters for $21 a share. Providence, R.I.-based Textron surged $4.45, or 49 percent, to $13.56 on the New York Stock Exchange. A deal at $21 would value the company at $5.1 billion based on 242.9 million outstanding shares. After an inquiry from the NYSE, Textron responded that it doesn't comment on market rumors.
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BUSINESS
April 29, 2009
GM transmission plant stops production early The General Motors Powertrain Baltimore Transmission plant in White Marsh has stopped production earlier than expected, a spokesman said Tuesday, as the company deals with several temporary factory closings this summer because of weak sales. White Marsh's hybrid transmission line stopped last Thursday and is expected to resume production July 13. The Allison transmission line will stop production May 7 and resume July 6. The plant employs about 240 workers.
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BUSINESS
By Bloomberg News | April 14, 2009
Textron Inc., the parent of Hunt Valley-based defense contractor AAI Corp., fell Monday after a Macquarie Capital analyst reduced his rating on the stock to "neutral," saying that last week's surge after a Kuwaiti newspaper report about a possible takeover will make the company "a volatile ride." Providence, R.I.-based Textron is now more likely to be treated as a takeover candidate and less likely as a "beaten-up finance story," Rob Stallard wrote Monday in an investor note. "Either way, we believe this still makes for a volatile ride that many may choose to avoid," wrote Stallard, who lowered his rating to "neutral" from "outperform."
BUSINESS
By Bloomberg News | April 14, 2009
Textron Inc., the parent of Hunt Valley-based defense contractor AAI Corp., fell Monday after a Macquarie Capital analyst reduced his rating on the stock to "neutral," saying that last week's surge after a Kuwaiti newspaper report about a possible takeover will make the company "a volatile ride." Providence, R.I.-based Textron is now more likely to be treated as a takeover candidate and less likely as a "beaten-up finance story," Rob Stallard wrote Monday in an investor note. "Either way, we believe this still makes for a volatile ride that many may choose to avoid," wrote Stallard, who lowered his rating to "neutral" from "outperform."
BUSINESS
By New York Times News Service | May 13, 1994
LOS ANGELES -- In a significant consolidation of the small airplane engine business, AlliedSignal Inc. said yesterday that it had agreed to buy the Lycoming Turbine Engine Division of Textron Inc. for $375 million in cash.AlliedSignal, a diversified manufacturing company based in Morristown, N.J., has been seeking to expand its aerospace business, which is based in Torrance, Calif. Its plant in Tucson, Ariz., makes motors for regional transport planes containing 19 to 30 seats.The acquisition of Textron's Lycoming division, which makes engines for planes with 70 to 115 seats, will make AlliedSignal the nation's largest manufacturer of small airplane engines, eclipsing Pratt & Whitney and Allison.
NEWS
By Laura Smitherman, Andrea K. Walker and David Wood and Laura Smitherman, Andrea K. Walker and David Wood,SUN REPORTERS | October 9, 2007
The $1.1 billion deal announced yesterday to sell Hunt Valley-based United Industrial Corp. to a competitor is a measure of how much the U.S. military depends on unmanned spy planes to spare soldiers in two intractable wars. United Industrial, whose Shadow drone is deployed over battlefields in Iraq and Afghanistan, will be acquired by Textron Inc., a corporation based in Providence, R.I. Textron produces Bell helicopters and Cessna aircraft and also makes golf carts, auto parts and surveillance systems.
BUSINESS
February 26, 2009
Six Flags holding job fair Saturday Six Flags America is holding its annual job fair Saturday to hire seasonal workers for 1,500 positions at its park in Bowie. The jobs, which begin in March and run through November, are available in rides, foods, games and front gate operations, among various openings. Besides hourly seasonal positions, Six Flags is also offering college internships and limited full-time positions. Visit www.sixflagsjobs.com to start the application process. The job fair is scheduled from 10 a.m. to 5 p.m. at 13710 Central Ave. in Bowie.
BUSINESS
April 29, 2009
GM transmission plant stops production early The General Motors Powertrain Baltimore Transmission plant in White Marsh has stopped production earlier than expected, a spokesman said Tuesday, as the company deals with several temporary factory closings this summer because of weak sales. White Marsh's hybrid transmission line stopped last Thursday and is expected to resume production July 13. The Allison transmission line will stop production May 7 and resume July 6. The plant employs about 240 workers.
BUSINESS
By BLOOMBERG BUSINESS NEWS | April 30, 1996
CHATTANOOGA, Tenn. -- Provident Cos. said yesterday that it will buy Paul Revere Corp., a rival disability insurer, from Textron Inc. in a transaction valued at $1.2 billion.Zurich Insurance Co., a Swiss insurer, will help pay for the purchase by taking a 15 percent stake in Provident for about $300 million.The acquisition will create the largest U.S. insurer of individuals against loss of income from debilitating illnesses or accidents. It's also the latest step in Provident's effort to reorganize and expand.
NEWS
By Peter Hermann and Peter Hermann,SUN STAFF | November 17, 1998
Federal investigators are trying to determine whether a faulty engine that caused a Baltimore police helicopter to crash, killing its pilot, was shoddily assembled by replacement workers during a strike at a Pennsylvania company.Jim Cain, an investigator with the National Transportation Safety Board, said he does not know why a connecting rod flew loose and punctured two holes in the engine casing of the Schweizer 300C chopper.But Cain said the four-cylinder engine "was built during the time-frame" of a contentious labor dispute at the Textron-Wycoming plant in Williamsport, Pa. He said investigators "are trying to determine" whether replacement workers built the motor.
BUSINESS
By Bloomberg News | April 10, 2009
Shares of Textron Inc., the owner of Hunt Valley-based defense contractor AAI Corp., rose almost 50 percent Thursday after Kuwait's Al-Watan newspaper reported that a United Arab Emirates group is preparing to buy the maker of Cessna aircraft and Bell helicopters for $21 a share. Providence, R.I.-based Textron surged $4.45, or 49 percent, to $13.56 on the New York Stock Exchange. A deal at $21 would value the company at $5.1 billion based on 242.9 million outstanding shares. After an inquiry from the NYSE, Textron responded that it doesn't comment on market rumors.
BUSINESS
February 26, 2009
Six Flags holding job fair Saturday Six Flags America is holding its annual job fair Saturday to hire seasonal workers for 1,500 positions at its park in Bowie. The jobs, which begin in March and run through November, are available in rides, foods, games and front gate operations, among various openings. Besides hourly seasonal positions, Six Flags is also offering college internships and limited full-time positions. Visit www.sixflagsjobs.com to start the application process. The job fair is scheduled from 10 a.m. to 5 p.m. at 13710 Central Ave. in Bowie.
BUSINESS
By JAY HANCOCK | October 14, 2007
Ladies and gentlemen, we have a business rarity, a specimen seldom identified outside the imaginations of certain management professors: The Perfect Merger. Textron's planned buyout of Hunt Valley's AAI Corp. and its United Industrial Corp. umbrella is good for shareholders, employees, customers and vendors at both companies. Maybe most important, it's not too good for United Industrial's executives. Textron, maker of Bell helicopters and Cessna planes, is buying United Industrial and its Maryland business of small, pilotless spy planes for $1.1 billion.
NEWS
By Laura Smitherman, Andrea K. Walker and David Wood and Laura Smitherman, Andrea K. Walker and David Wood,SUN REPORTERS | October 9, 2007
The $1.1 billion deal announced yesterday to sell Hunt Valley-based United Industrial Corp. to a competitor is a measure of how much the U.S. military depends on unmanned spy planes to spare soldiers in two intractable wars. United Industrial, whose Shadow drone is deployed over battlefields in Iraq and Afghanistan, will be acquired by Textron Inc., a corporation based in Providence, R.I. Textron produces Bell helicopters and Cessna aircraft and also makes golf carts, auto parts and surveillance systems.
NEWS
By Peter Hermann and Peter Hermann,SUN STAFF | November 17, 1998
Federal investigators are trying to determine whether a faulty engine that caused a Baltimore police helicopter to crash, killing its pilot, was shoddily assembled by replacement workers during a strike at a Pennsylvania company.Jim Cain, an investigator with the National Transportation Safety Board, said he does not know why a connecting rod flew loose and punctured two holes in the engine casing of the Schweizer 300C chopper.But Cain said the four-cylinder engine "was built during the time-frame" of a contentious labor dispute at the Textron-Wycoming plant in Williamsport, Pa. He said investigators "are trying to determine" whether replacement workers built the motor.
BUSINESS
By BLOOMBERG BUSINESS NEWS | April 30, 1996
CHATTANOOGA, Tenn. -- Provident Cos. said yesterday that it will buy Paul Revere Corp., a rival disability insurer, from Textron Inc. in a transaction valued at $1.2 billion.Zurich Insurance Co., a Swiss insurer, will help pay for the purchase by taking a 15 percent stake in Provident for about $300 million.The acquisition will create the largest U.S. insurer of individuals against loss of income from debilitating illnesses or accidents. It's also the latest step in Provident's effort to reorganize and expand.
NEWS
By Alan J. Craver and Alan J. Craver,Sun Staff Writer | August 17, 1994
A survivor of an April 1993 plane crash in Edgewater is seeking $10 million in damages in a civil lawsuit he filed last week against the manufacturer of the craft's engine.Frederickus Johannas Giltay III of Ellicott City contends in the suit that a faulty exhaust valve caused the plane to suffer engine problems and crash in a cornfield near Lee Airport in Anne Arundel County on April 17, 1993.The makers of the engine -- Textron Inc. of Providence, R.I., and its subsidiary, Textron Lycoming Reciprocating Engine Division of Williamsport, Pa. -- are named as defendants in the suit, which was filed in Howard Circuit Court on Aug. 10.Officials at Textron declined to comment on the suit.
BUSINESS
By JAY HANCOCK | October 14, 2007
Ladies and gentlemen, we have a business rarity, a specimen seldom identified outside the imaginations of certain management professors: The Perfect Merger. Textron's planned buyout of Hunt Valley's AAI Corp. and its United Industrial Corp. umbrella is good for shareholders, employees, customers and vendors at both companies. Maybe most important, it's not too good for United Industrial's executives. Textron, maker of Bell helicopters and Cessna planes, is buying United Industrial and its Maryland business of small, pilotless spy planes for $1.1 billion.
NEWS
By Alan J. Craver and Alan J. Craver,Sun Staff Writer | August 17, 1994
A survivor of an April 1993 plane crash in Edgewater is seeking $10 million in damages in a civil lawsuit he filed last week against the manufacturer of the craft's engine.Frederickus Johannas Giltay III of Ellicott City contends in the suit that a faulty exhaust valve caused the plane to suffer engine problems and crash in a cornfield near Lee Airport in Anne Arundel County on April 17, 1993.The makers of the engine -- Textron Inc. of Providence, R.I., and its subsidiary, Textron Lycoming Reciprocating Engine Division of Williamsport, Pa. -- are named as defendants in the suit, which was filed in Howard Circuit Court on Aug. 10.Officials at Textron declined to comment on the suit.
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