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TEXTRON COMPLETES ACQUISITION OF ACUSTAR PLASTICS, NAMES NEW GROUP VICE PRESIDENT TO HEAD DIVISION

 PROVIDENCE, R.I., May 3 /PRNewswire/ -- Textron Inc., (NYSE: TXT) has completed its previously announced acquisition of Chrysler Corporation's (NYSE: C) Acustar plastics operations, James F. Hardymon, Textron's chairman, president and chief executive officer, announced today.
 Hardymon also announced that Fred L. Hubacker, 48, has been named a group vice president and president of the company's newly created subsidiary, Textron Acustar Plastics Inc., which will be operated from Walled Lake, Mich., as a division in Textron's Commercial Products sector. As a group vice president, Hubacker will also have responsibility for Textron's Randall and McCord Winn automotive divisions, based respectively in Cincinnati and Winchester, Mass.
 Hardymon cited Hubacker's knowledge of Acustar, his understanding of Chrysler's needs from suppliers and his broad automotive background. "His strengths in these important areas will assist the growth of our automotive business. He is a natural to lead this newly acquired operation," Hardymon said.
 Hubacker received a B.A. degree in marketing from Michigan State University, East Lansing and an MBA from Wayne State University, Detroit.
 He began his career with Chrysler as an administrative trainee in 1966 and held positions in manufacturing and automotive assembly before becoming manager-advance financial planning in 1985 and group controller-procurement and supply operations in 1991.
 Textron's new division includes four manufacturing facilities -- three in the United States and one in Canada -- which manufacture plastic injection molded interior and exterior trim parts and sub- assemblies for Chrysler cars and light trucks. The acquisition also includes a long-term supply arrangement between Chrysler and Textron for the purchase by Chrysler of products manufactured by the acquired operations and for similar products manufactured by Textron's other automotive divisions.
 The four Acustar units included in the acquisition are Evart Products Company, Evart, Mich.; MacDonald Molding, Inc., New Baltimore, Mich.; Rantoul Products, Inc., Rantoul, Ill. and the Guelph Products Division, located in Guelph, Ontario, Canada. Based in Troy, Mich., Acustar Plastics and its four operations were formerly part of American Motors Corporation which was acquired by Chrysler in 1987. The combined operations employ about 2,300 workers.
 Textron is a multi-industry company with operations focused in three business sectors -- Aerospace Technology, Commercial Products and Financial Services.
 -0- 5/3/93
 /CONTACT: Raymond W. Caine, Jr., vice president of corporate communications, Textron, 401-421-2800/
 (TXT, C)


CO: Textron, Inc.; Chrysler Corporation's Acustar ST: Rhode Island, Michigan IN: AUT SU: TNM

DJ -- NE015 -- 3821 05/03/93 12:47 EDT
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Publication:PR Newswire
Date:May 3, 1993
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