Textron agrees to sell turbine engine components unit

PROVIDENCE — Textron also has signed a definitive purchase and sale agreement
for the sale of Turbine Engine Components Textron (TECT), a maker of internal
components for gas turbine engines used in aircraft and industrial applications,
to UC Acquisitions, Inc., a privately held holding company that owns Utica Corporation,
a leading supplier of compressor, turbine and fan blades for gas turbines. TECT’s
2000 revenues were approximately $125 million. Closing is expected to occur within
45 days following receipt of all necessary governmental approval and satisfaction
of customary closing conditions. Terms of the transaction were not disclosed.