Textron Acquires Energy Manufacturing and Williams Machine & Tool
25 June 1999
Textron Acquires Energy Manufacturing and Williams Machine & Tool; Acquisitions Reinforce Textron's Motion Control Systems Solutions
PROVIDENCE, R.I.--June 24, 1999--Textron Inc. announced today the acquisitions of Energy Mfg. Co., Inc. and Williams Machine & Tool Co. The two companies will be integrated with Textron's Motion Control Products businesses, part of the Fluid & Power Systems Group. Collectively, the acquired companies are leading manufacturers of welded hydraulic cylinders, valves, pumps and reservoirs for the agriculture, construction, waste handling and truck equipment industries, and other industries utilizing hoist and material handling technology. Combined 1998 revenues for the companies were approximately $28 million. Terms of the transaction were not disclosed."These strategic acquisitions add complementary products to our existing motion control companies, including David Brown Hydraulics and HR Textron, further enhancing our ability to offer complete, value-added motion control systems to the worldwide marketplace," said Textron Fluid & Power Systems President Bob Geckle. "As part of the Textron family of companies, these operations will greatly benefit from Textron's global manufacturing and distribution channels," he added.
With production facilities in Monticello, Iowa and Omaha, Nebraska, Energy Mfg. Co., Inc. and Williams Machine & Tool Co. serve over 1,000 customers with high-quality hydraulic and motion control products and systems.
With approximately $1 billion in annualized revenues and locations in 23 countries, Textron's Fluid & Power Systems Group is a leading manufacturer of mechanical power transmission and motion control components and systems, pumps and electronic systems. The Fluid & Power Systems Group is part of Textron's $4 billion Industrial Segment.
Textron Inc. is a $10 billion, global, multi-industry company with market-leading businesses in Aircraft, Automotive, Industrial and Finance. Textron has a workforce of over 64,000 employees and major manufacturing facilities in 23 countries. Textron is among Fortune magazine's "America's Most Admired Companies," and Industry Week magazine's "Best Managed Companies." Additional information is available at www.textron.com.