Textron to Separate Industrial Business, Focus on Aerospace and Defense
Textron announced plans to separate its industrial segment from its aerospace and defense operations as part of a strategic shift. The company aims to complete the separation within 12-18 months through options like selling or spinning off the unit. CEO Lisa Atherton highlighted that this move is expected to improve Textron's financial profile, with an estimated $12 billion in revenue from its aerospace and defense segments.
Tickers: $TXT