Textron Continues Shanghai Expansion

Providence, Rhode Island - June 06 - Continuing its ongoing global expansion in China to better reach customers, locate manufacturing and find new suppliers, Textron Inc. (NYSE:TXT) announced it has hired Simon Qian to the new position of director, Asia sourcing, enterprise excellence, and has moved to larger office space in Shanghai to accommodate its recent growth.

"The continued economic growth in China presents exciting opportunities to reach new customers, better serve existing customers and find more affordable sources of parts and components," said Ee Soon Kiong, president of Textron China.

The addition of Qian to the Textron China team is key step in Textron's global sourcing program, part of a broad based supply chain improvement initiative underway across all Textron operations. Textron has already established a sourcing office in Poland and is planning a third office in South America. From Shanghai, Textron will increase its supplier base for high quality parts, components and products throughout Asia, particularly China.

Qian, who joined Textron from General Electric, brings 30 years of experience and local knowledge. He is responsible for identifying new sources of supply for all of Textron's business units. Over the next several months, he will add an additional three global sourcing representatives to seek prospective suppliers. Qian and his team report to Joe Sponholz, Textron's director of globalization, based in Providence, RI.

With the addition of Qian, Textron's Shanghai office now employs nearly 25 people, up from just a handful less than a year ago. Representatives of various Textron companies are now based in Shanghai: Textron Fastening Systems, Greenlee professional electrical testing tools and equipment, Maag, maker of polymer processing equipment and industrial gear pumps, David Brown gears and pumps, and InteSys, a supplier of injection molded products to the telecommunications industry.

This growth has prompted Textron to move its Shanghai headquarters. In mid-April, the office moved to new space at Lippo Plaza on Huai Hai Zhong Road in downtown Shanghai.

Textron Fastening Systems has also recently opened fastener production facility and customer application center in Wuxi, China. The plant provides fastening systems primarily for China's growing electronics and high technology industries. Kautex, a maker of plastic fuel systems for the automotive industry, also has two operating plants in China. In addition, several other Textron businesses including Cessna Aircraft Company and Bell Helicopter serve customers in China.

Textron Inc. (NYSE: TXT) is an $11 billion multi-industry company with 49,000 employees in 40 countries. The company leverages its global network of businesses to provide customers with innovative solutions and services in industries such as aircraft, fastening systems, industrial products and components and finance. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft, Kautex, Lycoming, E-Z-GO and Greenlee, among others.

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