Governor Haley Barbour Welcomes Textron Fastening Systems to Greenville

GREENVILLE, Miss., Jan. 19, 2004 -- Governor Haley Barbour, along with representatives from the City of Greenville, Washington County and the Mississippi Development Authority, today welcomed Textron Fastening Systems, a $1.65 billion business unit of Textron Inc. to Greenville. The operation will manufacture a broad range of custom-designed specialty threaded fasteners and other precisely engineered fastening and assembly products for its automotive and industrial customers.

The project represents a capital investment of $35 million and is located in a 308,000 square-foot facility which previously housed the Nicholson Saw Company. Textron Fastening Systems' Greenville Operations is expected to employ 500 people when fully operational later this fall, with about 430 hourly positions and 70 salaried positions.

"This is a day we celebrate Dr. Martin Luther King's birthday. I suspect Dr. King would think that the creation of 500 new jobs would be an appropriate birthday present for the people of the Delta. We're thrilled that Textron Fastening Systems has chosen Greenville for its new manufacturing facility. As a global leader in fastening solutions, the decision by this Fortune 500 company business unit to locate an advanced manufacturing center in the Mississippi Delta will improve the economic landscape for this region," said Governor Barbour. "This announcement proves that Mississippi continues to expand its role in the global auto industry and is a major competitor for quality jobs throughout the state."

"Our new Greenville facility helps us improve the productivity of our U.S. manufacturing operations while providing a strategic base for growing our business with the automotive manufacturers and tier one suppliers with operations in Mississippi and the South," said Textron Fastening Systems President Rick Clayton. "Our people will be active participants in the Greenville community, and our facility will support additional employment as we develop regional suppliers. Our partners at the State of Mississippi, its economic development agencies and higher education institutions, Washington County, as well as the City of Greenville, are enabling us to create a world- class fastening facility. We are extremely grateful for their support."

"We were excited about the opportunity to work in partnership with Greenville and Washington County officials to attract Textron to this area. These jobs are important and we'll continue to provide strong leadership and support in the future," said Leland R. Speed, executive director, Mississippi Development Authority.

According to Washington County Board of Supervisors President, Al Rankins, "Washington County and this region are thankful to be the beneficiaries of the partnerships that were formed to attract Textron to Greenville. Textron's decision to locate here will send an important message that our workforce and this area are serious competitors for good jobs."

Headquartered in Troy, Mich., Textron Fastening Systems is a leading global full service provider of engineered fastening systems, state-of-the-art assembly technology, application engineering services, and fastener management services. With more than 10,000 employees worldwide, Textron Fastening Systems supplies value-added fastening products, systems, and services to customers in nearly 200 countries. For more information, access: www.textronfasteningsystems.com