E-Z-GO 1998 Annual Report Download - page 18

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14
Global Acquisitions.
Innovative Products and
Processes. Best Practices.
Over the last three years, Textron’s Industrial segment has grown at a strong
14 percent rate, expanded into 19 new countries and significantly increased
its customer base while improving operating margins. Textron achieves this
impressive growth by developing innovative new products and processes,
employing best practices and making strategic acquisitions.
Acquisitions are central to our Industrial growth strategy, given the tremen-
dous opportunities within our target markets. Since 1992, we have acquired
20 market-leading industrial businesses that complement our product lines,
extend our global reach and offer opportunities for synergies in four targeted
areas for growth.
Within Textron Fastening Systems (TFS), a $2 billion leader in the
engineered fastening systems market, recent acquisitions include Ring Screw
Works, a $200 million supplier of automotive specialty threaded fasteners and
winner of DaimlerChrysler’s Platinum Pentastar Award in 1997 and 1998. Ring
Screw brings an excellent reputation with the automotive OEMs and superb
manufacturing processes. Germany-based Sükosim and Peiner — also
acquired in 1998 — offer market leadership and greater access to the
European automotive and industrial markets.
TFS is also partnering with Taiwan’s San Shing Hardware Co. Ltd., which
adds a low-cost manufacturing base and a wide array of competitively priced
products to TFS’ global capabilities.
Fluid and Power Systems, a $1 billion business focused on mechanical
power, fluid handling and motion control products, is building a strong global
platform with the acquisition of David Brown, a leading manufacturer of
power transmission and fluid handling systems.
In Golf, Turf-Care and Specialty Products, newly acquired Ransomes
of the U.K. adds reputable brands like Cushman, Ryan, Steiner and Brouwer
to our well-recognized brand names of E-Z-GO, Bunton and Jacobsen.
Within Industrial Components, Germany-based Klauke and U.S.-based
Datacom Technologies expand Greenlee’s product line, global reach and
capabilities within the electrical equipment and cable testing markets.
Cumulative Industrial
Revenues from
Acquisitions
($ in millions)
industrialindustrial