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Schiano Named Executive VP and CFO For Textron Fastening Systems

5 April 2000

Schiano Named Executive Vice President and Chief Financial Officer For Textron Fastening Systems TEXTRON FASTENING SYSTEMS DOMINICK SCHIANO Dominick J. Schiano, Textron Fastening Systems. (PRNewsFoto)[AG] TROY, MI USA 04/05/2000    

    TROY, Mich., April 5 Dominick J. Schiano has been named
executive vice president and chief financial officer for Textron Fastening
Systems.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/20000405/DEW006 )
    Schiano, 45, will direct financial planning and analysis, controls,
accounting policies and procedures, treasury, tax compliance and planning,
internal audit, capital budgeting, and real estate activities for Textron
Fastening Systems' global businesses.  In addition to these duties, he will
have responsibility for information technology, corporate development, and
mergers and acquisitions.
    "Dominick's proven track record, strong operating experience, and thorough
understanding of the Textron management process make him a welcome asset to
our team," said Textron Fastening Systems chairman, president and chief
executive officer Jack Sights.
    Since June of 1997, Schiano served as executive vice president and chief
financial officer for Textron Automotive Company.  Prior to that he was
director of business development for TRW Inc., Occupant Restraint Systems
Group where he was responsible for worldwide business development activities
including mergers and acquisitions, joint ventures, licensing, and strategic
alliances.  He joined TRW in 1992 as director of business development and
planning for the Vehicle Safety Systems group and served as a corporate
officer for TRW's European holding company.  Prior to joining TRW, Schiano
held senior operations, finance, and planning positions with Mountain Capital
Corporation (an investment banking and consulting firm) and Wickes Companies,
Inc. (formerly Gulf & Western Industries, Inc.)  He began his career as a cost
accountant at the McPhilben Lighting Division of Emerson Electric, Inc. in
Melville, New York.
    Schiano attended Long Island University in Greenvale, NY.  He is an active
member of the Conference Board Council of CFO's, the Economic Club of Detroit,
the Strategic Leadership Forum and the Society of Automotive Analysts.
    With over 16,000 employees around the world, Textron Fastening Systems is
the leading global provider of engineered fasteners, state of the art
engineered assemblies and inventory management services.  With over $2.2
billion in annual revenues, Textron Fastening Systems supplies products and
services to customers in more than 70 countries.
    Textron Inc. is an $11.6 billion, global, multi-industry
company with market-leading businesses in Aircraft, Automotive, Industrial and
Finance.  Textron has a workforce of over 68,000 employees and major
manufacturing facilities in 30 countries.  Textron is among Fortune magazine's
"Global Most Admired Companies."  Additional information is available at
http://www.textron.com .