Global Edition

Textron reviews Ipswich operations

11.30am 25th July 2002 - Corporate

Textron Golf, Turf and Specialty Products announced today that a review is underway of its Ipswich manufacturing operation, potentially placing some jobs at risk. This study does not affect the sales, marketing, customer service or engineering parts of the company. The company will be working with its workforce and relevant interested community agencies in the review.

The Ipswich operation focuses on the manufacture of Ransomes mowers and sweepers for golf clubs and municipal areas throughout Europe, America and the Far East. The plant employs 375 people (including temporary employees).

In a statement today Steve Chicken, managing director, said, “Uncertainty in the worldwide golf and municipal markets, as well as tough global market conditions, has increased the difficulties of maintaining financial performance. We need to find ways of more efficiently delivering our brands to our customers and maintain competitiveness in an aggressive marketplace.”

Headquartered in Charlotte, North Carolina and with operations in the US, UK, Europe and Australia, Textron Golf, Turf & Specialty Products is a division of Textron Inc. (NYSE: TXT), a $12 billion multi-industry company with interests in aircraft, fastening systems, industrial products, industrial components and finance.

The formation of Textron Golf, Turf & Specialty Products began in 1998 after Textron Inc. purchased Ransomes plc and merged it with Jacobsen Textron – creating Textron Turf Care & Specialty Products. In April 2000, management teams from Textron Turf Care & Specialty Products, E-Z-GO Textron and Steiner-Brouwer Textron were combined to form Textron Golf, Turf & Specialty Products

“We remain totally committed to the Ransomes brand,” continued Steve Chicken, “and to Ipswich as a base for selling, supporting and designing high quality products for the worldwide market.

“To this end we will be exhibiting new products at Saltex, which have been developed here at Ipswich and we shall continue with product development to ensure that we provide end users with the right product for the UK and European markets. Also support for our end users will be maintained and improved following our recent significant investment in our service parts operation and our UK branches.

“I can assure end users that the Ransomes brand will still be prominent in the market and that we remain totally committed to providing a range of products, specifically designed to meet and exceed their expectations.”

Textron www.textronsolutions.com

In related news...