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TEXTRON PLANS TO SELL CWC CASTINGS DIVISION

 TEXTRON PLANS TO SELL CWC CASTINGS DIVISION
 PROVIDENCE, R.I., June 10 /PRNewswire/ -- Textron Inc. (NYSE: TXT)


plans to sell its CWC Castings Division, James F. Hardymon, Textron's president and chief executive officer, announced today.
 CWC Castings, headquartered in Muskegon, Mich., produces gray ductile and chilled iron camshafts and thin wall steel and stainless steel castings for automotive and nonautomotive vehicle and equipment manufacturers.
 Commenting on the proposed sale, Hardymon said, "CWC is an excellent company with a long tradition of producing quality products that should perform even better under the ownership of a company more focused on these specialty products." He added that Textron's major automotive divisions concentrate on interior and exterior parts and trim and fastener products.
 Founded as Campbell Wyant and Cannon in 1908, CWC was acquired by Textron in 1956.
 The investment firm of Bowles Hollowell Conner & Co., Charlotte, N.C., will represent Textron in the sale.
 Textron is a multi-industry company with operations focused in three business sectors -- aerospace technology, commercial products and financial services.
 -0- 6/10/92
 /CONTACT: Raymond W. Caine Jr., vice president of corporate communications, Textron Inc., 401-421-2800/
 (TXT) CO: Textron Inc. ST: Rhode Island; Michigan IN: SU:


CN -- NE004 -- 8781 06/10/92 11:25 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jun 10, 1992
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