E-Z-GO 2011 Annual Report Download - page 8

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In 2011—with powerful brands in a broad mix of industries—
our Industrial businesses helped to energize the company’s
overall results. Industrial revenues approached $2.8 billion,
reflecting a 10 percent increase for the year. Together, these
businesses created $202 million in profit while significantly
reinvesting in strategic growth initiatives.
Profits rose at our Greenlee and Klauke tool businesses, as
we saw renewed sales activity with professional contractors
and electrical distribution customers. On job sites around the
world, these tools are renowned for their durability and speed,
helping contractors cut, crimp and drill an array of tough
materials. Greenlee’s power tool accessories business grew
by 25 percent during the year due to new product launches
and design improvements—and sales increased by 24 percent
for the company’s line of lithium-ion power tools. Greenlee
also acquired a majority stake in Shanghai Endura Tools,
a well-established brand of hand tools serving China’s home
centers and industrial distribution channels. In Latin America
and Mexico, Greenlee increased sales by 83 percent during
the year.
At Kautex, the business saw higher demand for its fuel
systems, as the global automotive market strengthened in
2011. Revenues grew by 11 percent and Kautex won several
highly competitive contracts from top automakers—including
contracts to produce 550,000 fuel tanks annually for
General Motors’ Chevrolet and Buick models, and with BMW
to provide 400,000 fuel tanks. Kautex also saw growing
demand for its Selective Catalytic Reduction Systems used to
reduce emissions from diesel engines. In order to capitalize on
worldwide opportunities, Kautex announced plans for new
plants in Asia, Europe and North America.
For our E-Z-GO, Cushman and Bad Boy Buggies brands, 2011
was a dynamic year for vehicle launches. Actions included a
major refresh of the utility vehicle lineup—updating more than
40 vehicles across these brands. This helped drive strong growth
for the redesigned Cushman vehicles which improved sales by
50 percent for the year. Bad Boy Buggies launched its Bone
Collector® Limited Edition XTO 4x4 and a new Work Series
of utility vehicles. With these product line extensions, Textron
added to its reputation as one of the world’s leading makers
of small, rugged vehicles for work and recreation.
In the golf and turf-care industry, Jacobsen continued to
reinvent its product line—launching the GP400™ riding
greens mower, the LF550™/570™ lightweight fairway
mowers and new blade reel technology. During the year,
Jacobsen’s Eclipse® 322 won additional customers and
design awards as the industry’s first hybrid gas-electric
powered riding greens mower.
Textron’s Industrial segment is a powerful portfolio of
businesses—with brands offering the durability and value
that customers are looking for. These businesses were
fortified in 2011 with the addition of numerous products
and distribution channels worldwide, and are well prepared
for growth opportunities in the coming years.
INDUSTRIAL SALES WERE ENERGIZED AS GLOBAL
MARKETS TURNED UPWARD.
INDUSTRIAL
7
PERFORMANCE HIGHLIGHTS REVENUES BY REGION
(In millions) 2011 2010 2009
Segment Revenues $2,785 $2,524 $2,078
Segment Profit $202 $162 $27 2011
2011
40% Europe 4% Canada
34% United
States 1% Middle
East
12% Asia
Pacific
9% Latin Am.
& Mexico