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Textron Specialized Vehicles Acquires Douglas Equipment (Jan 14)

Jan 13, 2015 – The Textron Specialized Vehicles group of Textron Inc. TXT, +0.33% through Textron Ground Support Equipment UK Limited, has acquired the Douglas Equipment business from Curtiss-Wright Flow Control (UK) Limited, a subsidiary of Curtiss-Wright Corporation. Douglas Equipment is a manufacturer of ground support equipment (GSE) in the aviation industry, based in Cheltenham, England, UK.

Going forward, Douglas Equipment will operate as part of Textron Specialized Vehicles’ companies’ GSE business, which also includes TUG Technologies Corp., a leading manufacturer of ground support equipment based in Kennesaw, Ga. Douglas Equipment is a strong fit for the Textron Specialized Vehicles group, as Douglas’ specialization in towbarless and conventional aircraft tractors and runway friction measurement systems complements TUG Technologies’ leadership in baggage and tow tractors, pushbacks, belt loaders, ground power units, air-starts, and mobile HVAC units.

Douglas will continue to operate from its UK facilities in Cheltenham and Poyle, United Kingdom with its workforce of more than 90 employees intact. The Douglas brand will join the Textron Specialized Vehicles companies’ stable of brands alongside TUG™, E-Z-GO®, Cushman®, and Bad Boy® Buggies.

“We are excited to welcome Douglas to the Textron Specialized Vehicles family and to our ground support equipment business,” said Kevin Holleran, president of the Textron Specialized Vehicles group of Textron Inc. “The acquisition of Douglas and its unique brand and products, only a few months after our acquisition of TUG last spring, demonstrates our commitment to the GSE industry and our many customers.”

“Douglas brings to the Textron Specialized Vehicles group a strong European base, pioneering product lines, and a proven track record in the GSE industry,” said Stefaan Ver Eecke, vice president and general manager, GSE for Textron Specialized Vehicles. “Those advantages, combined with Textron’s resources and operational expertise, make for an exciting future to help accelerate our growth and expansion in the GSE sector.”

About Textron Specialized Vehicles

The Textron Specialized Vehicles group of Textron Inc. is a leading global manufacturer of golf cars, utility and personal transportation vehicles, and ground support equipment. Textron Specialized Vehicles companies design and manufacture products under the E-Z-GO®, Cushman®, Bad Boy® Buggies and TUG™ brands; their vehicles are found in environments ranging from golf courses to factories, airports to planned communities, and theme parks to hunting preserves.

About Textron Inc.

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial, and finance businesses to provide customer with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Textron Aviation, Beechcraft, Hawker, Cessna, Jacobsen, Kautex, Lycoming, Textron Specialized Vehicles, Greenlee, and Textron Systems. For more information, visit www.textron.com.

Certain statements in this press release may project revenues or describe strategies, goals, outlook or other non-historical matters; these forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update them. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements.

Original: http://www.marketwatch.com/story/textron-specialized-vehicles-acquires-douglas-equipment-2015-01-13

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