E-Z-GO 2005 Annual Report Download - page 24

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4
Textron Inc.
Kautex
Kautex, headquartered in Bonn, Germany, is a leading global manufacturer of blow-molded fuel systems and other blow-molded parts for auto-
mobile original equipment manufacturers and, to a lesser extent, other industrial customers. Kautex operates plants near its major customers all
around the world. Kautex is also a leading supplier of windshield and headlamp washer systems in the original equipment automobile market. In
North America, Kautex produces metal fuel fillers and engine camshafts for the automotive market. In Germany, Kautex produces plastic contain-
ers for household and industrial uses.
Revenues of Kautex accounted for approximately 15%, 19% and 18% of our total revenues from continuing operations in 2005, 2004 and 2003,
respectively.
Kautex has a number of competitors worldwide, some of whom are owned by the automotive original equipment manufacturers that compose
Kautex’s targeted customer base. Competition is typically based on a number of factors, including price, quality, reputation, prior experience and
available manufacturing capacity.
Greenlee
Greenlee consists of Greenlee, Klauke and Tempo. These companies manufacture powered equipment, electrical test and measurement instru-
ments, hand and hydraulic powered tools, and electrical and fiber optic connectors under the Greenlee, Fairmont, Klauke, Progressive and Tempo
brand names. The products are principally used in the electrical construction and maintenance, telecommunications and plumbing industries.
Greenlee distributes its products through a global network of sales representatives and distributors, and also directly to home improvement retail-
ers and original equipment manufacturers. Rothenberger L.L.C., a 50-50 joint venture between Greenlee Plumbing Inc. and Rothenberger USA,
Inc., a subsidiary of Rothenberger AG, sells hand and powered tools for the plumbing and mechanical industries in North America. The Greenlee
businesses face competition from numerous manufacturers based primarily on price, quality, performance, reliability, delivery and reputation.
Fluid & Power
Fluid & Power consists of four product lines: Gear Technologies, Hydrocarbon Processing Products, Polymer Systems and Hydraulics. Gear
Technologies designs and manufactures industrial gears, mechanical transmission systems, worm gear speed reducers, screwjacks, gear motors
and gear sets under the David Brown, Benzlers, Cone Drive and Radicon brand names. Hydrocarbon Processing Products designs and manufac-
tures industrial pumps for the oil, gas, petrochemical and desalinization industries under the David Brown Union Pump and David Brown Guinard
Pump brands. Polymer Systems designs and manufactures industrial pumps, extrusion equipment and screen changers for the polymer industry
under the Maag brand name. Hydraulics designs, manufactures and sells hydraulic pumps, valves and pilot controls under the David Brown,
Hydreco and Powauto brands. These products are sold to a variety of customers, including original equipment manufacturers, governments, dis-
tributors and end users. Fluid & Power faces competition from other manufacturers based primarily on price, quality, product support, perfor-
mance, reliability, delivery and reputation.
Finance Segment
Our Finance segment consists of Textron Financial Corporation and its subsidiaries. Textron Financial Corporation is a diversified commercial
finance company with core operations in six markets:
•
Aircraft Finance
provides financing for new and used Cessna business jets, single engine turboprops, piston-engine airplanes, Bell helicopters
and other general aviation aircraft;
•
Asset-Based Lending
provides asset-based loans to middle-market companies in several industries, and provides factoring arrangements pri-
marily for freight companies;
•
Distribution Finance
primarily offers inventory finance programs for dealers of products manufactured by Textron and for dealers of a variety of
other household, housing, leisure, agricultural and technology products;
•
Golf Finance
primarily makes mortgage loans for the acquisition and refinancing of golf courses and provides term financing for E-Z-GO golf
cars and Jacobsen turf-care equipment;
•
Resort Finance
primarily extends loans to developers of vacation interval resorts, secured primarily by notes receivable and interval inventory;
and
•
Structured Capital
primarily engages in long-term leases of large-ticket equipment and real estate, primarily with investment grade lessees.