Textron CEO Lewis Campbell said on April 22 that it’s unlikely that the parent company of Cessna Aircraft and Bell Helicopter will sell any more of its businesses to generate cash, according to a report in The Wichita Eagle.
“Given the success we have had with the Textron Financial liquidation so far, and given the recent sale of two high-value assets and other cash-production opportunities, I feel now that it’s highly, highly improbable and unlikely that we’ll ever have to divest of any more assets,” Campbell told the Providence Journal following Textron’s annual shareholders meeting in Providence, R.I., wrote The Eagle’s Molly McMillin on April 23.
Campbell declined to comment about an April 19 report in a Kuwaiti newspaper that a Middle Eastern consortium was close to buying Textron for $21 a share.
In February, Campbell had said in February that Textron could put some of its assets up for sale to raise cash if a plan to increase its liquidity wasn’t successful in the first half of this year.
To read the full story: http://www.kansas.com/business/aviation/story/785368.html