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Textron Fastening Systems Announces New Owner for Minority-Owned Partnership

23 August 2000

Textron Fastening Systems Announces New Owner for Minority-Owned Partnership

Jeanette M. Abraham to Lead Textron Fastening Systems' Detroit Heading Company

    TROY, Mich., Aug. 23 Jeanette Abraham has purchased the
51% ownership interest previously held by the late Thomas Sims in the joint
venture between Textron Fastening Systems and Detroit Heading Company (DHC).
In this transfer of ownership, Ms. Abraham will become president and chief
executive officer of DHC, a supplier of steel fasteners to the automotive
industry.
    Ms. Abraham has spent 32 years with General Motors Corporation, most
recently as head of North American Operations procurement for fasteners.  As
an established community leader who has helped develop minority suppliers for
the automotive industry, she will play a key role in strengthening both
personnel and operating issues at DHC.
    "Ms. Abraham is very familiar with Detroit Heading Company and has served
as an important mentor during its development.  Her understanding of fasteners
and minority business development will facilitate the growth of DHC," said
Textron Fastening Systems - Automotive Solutions President Chuck O'Brien.
    The Detroit Heading Company and Textron Fastening Systems began operating
in a brand new automotive fastener manufacturing and distribution facility
earlier this month.  The facility is located at Detroit's Lynch Road
Renaissance subzone.
    Textron Fastening Systems, a $2.2 billion organization, is the leading
global provider of engineered fasteners, state of the art engineered
assemblies, and inventory management services.  With over 16,000 employees
around the world, 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 .