Textron Specialized Vehicles Inc. Acquires the Business of Premier Engineering & Manufacturing Inc.

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AUGUSTA, GA. — May 03, 2016–  Textron Specialized Vehicles Inc., a Textron Inc. (NYSE: TXT) company, through its TUG Technologies Corporation subsidiary, has acquired the assets and business of Premier Engineering & Manufacturing Inc. of Marinette, Wis., a leading manufacturer of de-icers for the aviation industry.

Premier Engineering & Manufacturing’s operations will continue as part of Textron Specialized Vehicles’ Ground Support Equipment (GSE) business, which includes products manufactured under the TUG™ and Douglas™ Equipment brands. Premier’s line of de-icers will complement the existing TUG and Douglas product lines, which include towbarless and conventional aircraft pushbacks, baggage and cargo tractors, belt loaders, air-starts and mobile HVAC units.

“We are excited to welcome Premier to TUG and Textron Specialized Vehicles,” said Kevin Holleran, president and CEO of Textron Specialized Vehicles. “Premier’s line of de-icers expands our already robust GSE product offerings, and allows us to offer our customers in the aviation industry a more complete line of proven, reliable and versatile products from leading brands in the GSE sector.”

Premier’s workforce of more than 50 employees will continue to operate from its Marinette facility. Premier founder Jerry Derusha will continue to serve as Director, Operations for the Premier business.

“It is an honor to join TUG and Textron Specialized Vehicles and become a part of Textron, with its long heritage and legacy of leadership in aviation,” Derusha said. “This acquisition provides Premier’s business with additional resources and expertise to expand our product offerings, grow our business worldwide and ultimately better support our customers.”

About Textron Specialized Vehicles
Textron Specialized Vehicles Inc. is a leading global manufacturer of golf cars, utility and personal transportation vehicles, and ground support equipment. Textron Specialized Vehicles markets products under the E-Z-GO®, Cushman®, Bad Boy®, TUG™, Douglas™ and Premier™ brands; Its vehicles are found in environments ranging from golf courses to factories, airports to planned communities, and theme parks to hunting preserves.

About Textron Inc.
Textron Inc. (NYSE: TXT) is a multi-industry company that leverages its global network of aircraft, defense, 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, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Textron Systems, and TRU Simulation + Training. For more information, visit: www.textron.com.

Certain statements in this press release may project revenues or describe strategies, goals, outlook or other non-historical matters; these forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update them. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements.

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