Textron Sells Camelin Unit to Camelin Investissements

    PROVIDENCE, R.I.--June 26, 2003--As part of its ongoing effort to divest non-core assets, Textron Inc. today announced the sale of its Camelin business unit to Camelin Investissements, an investor group led by the unit's production manager. Camelin, a unit of Textron Fastening Systems, produces components for car braking and interior safety systems, as well as for domestic appliances. Terms of the transaction were not disclosed.
    Based in Besancon, France, Camelin generated 2002 revenues of approximately $10 million. The business consists of one plant that employs 100 people. Textron acquired Camelin in 1996.
    Textron Inc. is an $11 billion multi-industry company with 49,000 employees in 40 countries. The company leverages its global network of businesses to provide customers with innovative solutions and services in industries such as aircraft, fastening systems, industrial products and components and finance. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft, Kautex, Lycoming, E-Z-GO and Greenlee, among others. More information is available at www.textron.com.