Bell Helicopter Press Release
Bell Helicopter Expands Amarillo Manufacturing
To meet Demand for Increased Aircraft Production
AMARILLO, TEXAS (Aug. 11, 2008) - Bell Helicopter, a Textron Inc. (NYSE: TXT) company, announced a major expansion during ground-breaking ceremonies at its Military Aircraft Assembly Center located at Amarillo's Rick Husband International Airport. In preparation for a ramp-up in production of both the H-1 helicopter program and the Bell Boeing V-22, an additional 176,000 sq. ft. of floor space will be constructed. This brings the total size of the Bell facility to 1,095,000 sq. ft. under roof.
The expansion, scheduled for completion in July 2009, is primarily driven by the Bell Boeing V-22 Multi-Year Production contract signed in March 2008. This contract provides 167 aircraft to the US Marine Corps and Air Force Special Operations Command over a five year period, with an annual option for adding up to five additional aircraft. The new space allotted from the expansion provides room to build the additional aircraft.
In prepared remarks, Bell Executive Vice President for Government Programs Bob Kenney noted, "In just a few short years we will go from manufacturing the 17 V-22's we'll deliver this year to over 40 Ospreys annually. The Marines have been flying their MV-22's in combat in Iraq for the past year. This plant expansion enables us to meet the urgent needs of our customers."
Local civic and community leaders attending today's ceremony included Rep. Mac Thornberry (R-TX) and Amarillo Mayor Debra McCartt.
Approximately 1,000 employees and guests attended the outdoor ceremony. The work will be conducted by Western Builders of Amarillo.
About Bell Helicopter
Bell Helicopter is an industry-leading producer of commercial and military, manned and unmanned vertical lift aircraft and the pioneer of the revolutionary tilt rotor aircraft. Globally recognized for world-class customer service, innovation and superior quality, Bell's global workforce serves customers flying Bell aircraft in more than 120 countries.
About Textron Inc.
Textron Inc. is a $13.2 billion multi-industry company operating in 34 countries with approximately 44,000 employees. The company leverages its global network of aircraft, defense and intelligence, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Fluid & Power, Textron Systems and Textron Financial Corporation. More information is available at www.textron.com.
Forward-looking Information: Certain statements in this press release are forward-looking statements and speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements, including but not limited to the following: (a) changes in worldwide economic and political conditions that impact demand for our products, interest rates and foreign exchange rates; (b) the interruption of production at Textron facilities or at Textron's customers or suppliers; (c) changing priorities or reductions in the U.S. Government defense budget, including those related to Operation Iraqi Freedom, Operation Enduring Freedom and the Global War on Terrorism; (d) our ability to perform as anticipated and to control costs under contracts with the U.S. Government; (e) changes in national or international funding priorities, U.S. and foreign military budget constraints and determinations and government policies on the export and import of military and commercial products; (f) the U.S. Government's ability to unilaterally modify or terminate its contracts with us for the U.S. Government's convenience or for our failure to perform, to change applicable procurement and accounting policies, and, under certain circumstances, to suspend or debar us as a contractor eligible to receive future contract awards; (g) changes in aircraft delivery schedules or cancellation of orders; (h) legislative or regulatory actions impacting defense operations; (i) performance issues with key suppliers, subcontractors and business partners; and (j) bankruptcy or other financial problems at major suppliers that could cause disruptions in Textron's supply chain.
Military Aircraft Assembly Center