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Textron Acquires InteSys Technologies, Inc.

1 November 1999

Textron Acquires InteSys Technologies, Inc.; Acquisition Strengthens Textron Fastening Systems' Capabilities in Precision Plastic Design, Molding and Assembly

    PROVIDENCE, R.I.--Nov. 1, 1999--Textron Inc. today announced the acquisition of InteSys Technologies, Inc. from Berkshire Partners of Boston, Massachusetts and management and institutional shareholders. InteSys is a leading provider of plastic and metal engineered assemblies for the telecommunications, automotive, computer/business machines, medical and general consumer industries. Projected 1999 sales for InteSys are approximately $160 million. Terms of the transaction were not disclosed.
    "This acquisition has strong organic growth potential, serving high-growth end-user markets and bringing state-of-the-art design, plastic injection molding and assembly capabilities to Textron Fastening Systems," said Textron Chairman and Chief Executive Officer Lewis B. Campbell.
    "In addition, InteSys' sophisticated systems and technologies, coupled with its strong customer relationships with many of the leading companies in the telecommunications, automotive, computer and medical industries, will provide significant cross-selling opportunities benefiting other Textron units," Campbell continued.
    InteSys employs 1700 people at its Gilbert, Arizona-based headquarters and other facilities in Arizona, California, Texas, and Ireland. The acquisition also includes InteSys' 50% stake in two Brazilian joint ventures with Metagal Telecom Participacoes Ltda., which provide engineered assemblies for the telecommunications industry.
    With annualized revenues of over $2 billion, Textron Fastening Systems is the global leader in engineered fastening systems and assemblies serving the aerospace, automotive, computer, consumer, construction, industrial, medical, telecommunications, and inventory management industries. A part of Textron's Industrial segment, Textron Fastening Systems has over 100 locations in 19 countries, and serves customers in over 40 countries worldwide.

    Textron Inc. is an $11.5 billion, global, multi-industry company with market-leading businesses in Aircraft, Automotive, Industrial and Finance. Textron has a workforce of over 65,000 employees and major manufacturing facilities in 27 countries. Textron is among Fortune magazine's "Global Most Admired Companies." Additional information is available at www.textron.com.