Textron Aviation to sell Tools and Test business for $810m

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Textron is to sell its Tools and Test business to engineering company Emerson for US$810 million.

Included in the sale are all the Textron Tools and Test businesses and brands. This includes Greenlee, Greenlee Communications, Greenlee Utility, HD Electric, Klauke, Sherman+Reilly, and Endura.

The transaction is expected to close by November this year. The proceeds from the sale are expected to be used to fund additional share repurchases to offset the earnings impact related to the sale.

April 19,2018

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About Author

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Ben has worked as a journalist and editor, covering almost all aspects of technology, engineering and industry for the last 20 years. Initially writing about subjects from nuclear submarines to autonomous cars to future design and manufacturing technologies, he was editor of a leading UK-based engineering magazine before eventually becoming editor of Aerospace Testing in 2017.

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