Smith to Lead Fastener Group's Americas Operations

2 July 1998

Textron Names Smith to Lead Fastener Group's Americas Operations

    PROVIDENCE, R.I.--July 2, 1998--Textron today announced it has named Randy P. Smith president of Textron Fastening Systems (TFS) Americas. In this role, Smith will oversee more than 40 sites in North and South America employing over 10,000 people.
    Smith, 48, joins Textron from Automatic Switch Company, a New Jersey-based subsidiary of Emerson Electric which manufactures fluid power control valves, pressure switches, and emergency power systems to support critical installations from health care to financial services. Since 1993, Smith served as president of this subsidiary employing 4,000 workers at 23 sites around the world.
    "With his strong finance background and excellent track record in managing global operations, Randy will be an asset to our rapidly expanding fastener business," said Textron Fastening Systems President Frank Gulden.
    In his new role as president of TFS Americas, Smith will oversee the operations of Avdel Cherry Textron, Camcar Textron, Elco Textron, Ring Screw Textron, Textron Aerospace Fasteners and Textron Logistics Company.
    Smith joined Emerson Electric in 1989 as Chief Financial Officer (CFO) of its subsidiary Rosemount, Inc., a Minnesota-based maker of manufacturing process control instruments with 10,000 employees at 33 sites. Prior to this position, he was Vice President and CFO of Blackstone Corporation. From 1983 to 1988, Smith worked for the Carrier Corporation, a subsidiary of United Technologies Corporation, where he ultimately held the post of finance director for its North America Operations.
    Smith, a Michigan native, received an MBA and a BBA, both from the University of Toledo, Ohio. Smith is married with three children.
    With nearly $2 billion in annualized revenues, Textron Fastening Systems is the global leader in engineered fastening systems and assemblies serving the automotive, aerospace, appliance, electronics, construction, do-it-yourself and inventory management industries. Textron Fastening Systems, with 68 locations in 17 countries, is a part of Textron's Industrial segment.
    Textron Inc. is a $10.5 billion, global, multi-industry company with market-leading operations in Aircraft, Automotive, Industrial and Finance.