Providence-based Textron Inc. announced yesterday that it has sold the Gear Tools operation of its David Brown business unit in Huddersfield, United Kingdom, to Dathan Tool & Gauge Ltd. The transaction includes most of the fixed assets and a portion of inventory. Terms were not disclosed.
Gear Tools was acquired by Textron as part of its 1998 acquisition of David Brown Group plc, which is part of Textron’s Power Transmission group. Gear Tools had annual sales of approximately $1.4 million in 2001. The operation designs and produces a range of gear cutting tools for the automotive and agriculture equipment industries. This divestiture allows Textron Power Transmission to concentrate on its core activities supplying mechanical power transmissions.
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
This disposition is part of Textron’s strategy to gradually divest non-core assets to create a simpler, more focused network of strong businesses in attractive industries. Other recent divestitures include Textron Automotive Trim, Turbine Engine Components Textron, as well as the sale of other non-core product lines including skid-steer loaders, composite material products, carbon products, retail fastener distribution and, fuel control and fuel delivery systems.
