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Dive Brief:
Textron announced April 30 its plans to separate its industrial business as part of a strategy to shift its focus solely on its aerospace and defense segments under “New Textron.”
The company is evaluating options for the industrial unit, including selling or spinning it off as an independent, publicly traded company, according to the press release.
Textron is aiming to complete the separation within 12 to 18 months. In the meantime, the industrial segment will continue operations in alignment with Textron’s strategy, including investments in growth, margin improvement and innovation.
