Textron agrees to sell some non-U.S. businesses for $40M

PROVIDENCE – Textron Inc. has reached an agreement to sell elements of its subsidiary Tru Simulation + Training Inc. to CAE Inc. for $40 million in cash considerations, the company announced Wednesday.

The sale would include Tru Simulation + Training Canada Inc., including its Montreal manufacturing operations, as well at ETOPS entities in France and Malaysia and a minority interest in a joint venture in Iceland, the company said.

The deal is expected to close in the fourth quarter of 2020 or early 2021.

Textron will retain TRU Simulation + Training Inc. and its operations in Tampa, Fla., which will continue to focus on development of simulators for Textron Aviation and rotorcraft platforms.

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The businesses being sold operate as part of the Textron Systems segment.

CAE is a technology company headquartered in Montreal, Canada.