New Orleans, LA and Moorpark, CA - March 30, 2010: Textron Marine & Land Systems, an operating unit of Textron Systems, a Textron Inc. (NYSE: TXT) company, today announced a strategic license relationship with Federal Defense Industries Inc., for the sourcing, procurement and sale of Cadillac Gage vehicle spare parts in support of Foreign Military Sale (FMS) contracts.
This license agreement enables Federal Defense Industries to source and supply parts directly to the United States government for the more than 3,000 Cadillac Gage vehicles that have been sold around the world.
Textron acquired Cadillac Gage in 1986, merging the business with Textron Marine to form Textron Marine & Land Systems in 1994. The company successfully produced highly mobile and survivable armored vehicle platforms, such as the V-100, V-150 Commando, V-300, and Stingray® tank. Currently, the M1117 Armored Security Vehicle (ASV) is in active production at Textron Marine & Land Systems.
"Federal Defense Industries has been a contractor of choice for the U.S. Army Tank- automotive and Armaments Command FMS spares program and we are proud to be chosen by Textron Marine & Land Systems to support and expand the Cadillac Gage branded spares support into these familiar FMS markets," said Federal Defense Industries President Philip Ochoa.
"This partnership with Federal Defense Industries will allow Textron Marine & Land Systems to provide responsive and cost effective support to our heritage products," said Tom Walmsley, Textron Marine & Land Systems general manager.
About Federal Defense Industries Inc.
Federal Defense Industries, Inc. (FDI), CAGE 1PJ28, is a high volume distributor specializing in the expedited supply of new equipment and spare parts for domestic and Foreign Military Sales (FMS) mission support operations of U.S. military buying commands. FDI operates under multi-year Blanket Purchase Agreements (BPA's), formal contracts, and purchase orders to supply spare and replacement parts and consumables for U.S. manufactured equipment used in military and defense programs worldwide. The materials supplied range from mechanical parts and electronic components to complex electronic assemblies, supplied using only approved manufacturers and supported with a comprehensive quality system to ensure contract adherence, perfection of supply, and the highest End-User satisfaction. Founded in 2000, FDI is a California Corporation located in Southern California's technology rich region, in Moorpark, CA. FDI's headquarters are situated on 1.3 acres in a 23,400 sq. ft., owned warehouse and office facility with room for expansion. More information is available at www.fdi.us.com.
About Textron Marine & Land Systems
Textron Marine & Land Systems specializes in the design, production and support of advanced marine craft, armored combat vehicles, turrets and related subsystems. Textron Marine & Land Systems serves military and commercial customers domestically and internationally, and has products operating in more than 35 countries worldwide. Textron Marine & Land Systems is an operating unit of Textron Systems, a Textron Inc. company. More information is available at www.textronmarineandland.com.
About Textron Systems
Textron Systems Corporation has been providing innovative solutions to the defense, homeland security and aerospace communities for more than 50 years. Known for its unmanned aircraft systems, advanced marine craft, armored vehicles, intelligent battlefield and surveillance systems, intelligence software solutions, precision smart weapons, piston engines, test and training systems, and total life cycle sustainment services, Textron Systems includes AAI Corporation, Lycoming Engines, Overwatch, Textron Defense Systems and Textron Marine & Land Systems. Textron Systems Corporation is an indirect wholly owned subsidiary of Textron Inc. More information is available at www.textronsystems.com.
About Textron Inc.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z- GO, Greenlee, and Textron Systems. More information is available at www.textron.com.
Stingray is a registered trademark of Textron Innovations Inc.
Forward-looking Information: Certain statements in this press release are forward-looking statements and speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements, including but not limited to the following: (a) changes in worldwide economic and political conditions that impact demand for our products, interest rates and foreign exchange rates; (b) changes in national or international funding priorities, U.S. and foreign military budget constraints and determinations, and government policies on the export and import of military and commercial products; (c) legislative or regulatory actions impacting defense operations; and (d) performance issues with key suppliers, subcontractors and business partners.