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Textron Acquires Leading German Manufacturer Of Metal Stampings

3 May 2000

Textron Fastening Systems Acquires Leading German Manufacturer Of Metal Stampings and Engineered Assemblies

         Acquisition of Karl Oelschlager Adds Proprietary Technology
                         To Textron Fastening Systems

    TROY, Mich., May 2 Textron Fastening Systems today
announced the acquisition of Karl Oelschlager GmbH & Co. (Oelschlager), a
leading German manufacturer of metal stamped parts and engineered assemblies
utilizing proprietary technologies in laser welding.  Based in Stuttgart,
Germany, the company adds to Textron Fastening Systems' strong presence in the
German industrial and automotive fastener market, further enhancing the
Group's relationship with customers such as DaimlerChrysler, Karman, Mahle,
Kolbenschmidt and PWO.  Oelschlager's 1999 sales were approximately $19
million.  Terms of the transaction were not disclosed.
    "This acquisition brings a proprietary, value-adding technology to our
business, further extending the assembly solutions we offer to our German and
European customers," said Textron Fastening Systems Chairman, President and
Chief Executive Officer Jack Sights.
    Utilizing a state-of-the-art laser system, Oelschlager's laser welding
technology combines stamped metal parts with cold-formed products, increasing
the assembly's overall strength and durability while reducing the weight and
cost associated with traditional welding.  The process, which allows for the
combination of dissimilar alloys, is particularly important for industries
where lightweight structural components are needed and fastening is required.
    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. (NYSE: TXT) 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