Bell Helicopter and Cessna Aircraft, both Textron companies, broke ground on a facility dedicated to service and support for customers in the Asia-Pacific region. It is scheduled to enter service in next year’s second quarter and will be staffed by about 90 technical and administrative employees.
South Phoenix Airways
Textron, the parent company of Cessna Aircraft and Bell Helicopter, announced fourth-quarter 2009 and end-of-year numbers this morning and the news was somber. Cessna’s revenues for the fourth quarter 2009 dropped $642 million compared with the same period in 2008. Profits decreased $170 million and the order backlog fell 29 percent from the previous quarter, to $4.9 billion, primarily the result of cancellations.
As Providence, R.I.-based Textron labors to reduce its debt and the size of Textron Financial (its unprofitable financial arm) it is looking to its other businesses– Cessna Aircraft, Bell Helicopter, Textron Systems, and those in its industrial group–to bring the parent corporation back on the road to profitability.