E-Z-GO 2014 Annual Report Download - page 4

of TUG Technologies, a leading manufacturer
of aviation ground support equipment.
Jacobsen acquired Dixie Chopper, a maker
of zero-turn radius mowers, which allows
us to expand our product offerings in the
municipal and commercial markets.
Our TRU Simulation + Training business
strengthened its training capabilities and
broadened its reach among pilots with the
acquisition of ProFlight, a leader in
advanced pilot training services. With the
purchase of ProFlight, TRU is positioned to
meet the expected increased demand for
pilot and aircraft maintenance training
over the coming years. Since the acquisi-
tion, TRU has announced plans for three
additional training centers: one in Tampa,
Florida to support our Citation Jet and King
Air platforms; another in Wichita, Kansas;
and the third, in Valencia, Spain, with a
TRU-designed Bell 429 full-ight simulator
planned as its initial training platform.
NEW PRODUCTS AND PROGRAMS
FOR OUR CUSTOMERS
As we add new capabilities to our company,
we’ve continued a relentless focus on our
customers to anticipate their requirements,
address their needs with leading-edge
products and provide them with outstand-
ing support throughout the entire product
life cycle. Over the past year, we’ve had
success in each of these areas. Textron
Aviation began deliveries of the Cessna
Citation X+, an exciting new aircraft that
maintains the model’s status as the fastest
civil aircraft in the world. Customers have
also responded with great enthusiasm to
the introduction of the new Citation
Sovereign+ and Citation M2 aircraft.
Deliveries for these aircraft started in late
2013, and, in June 2014, deliveries began
in Europe following certication from the
European Aviation Safety Agency. Our
most spacious business jet, the Citation
Latitude, entered its ight testing program
and is on track for FAA certication and
rst deliveries in 2015.
At Bell Helicopter, we made noteworthy
progress during the year on our two major
commercial programs. The Bell 525
Relentless—our largest commercial
helicopter—is planning for its maiden
ight in 2015. Interest among customers
continues to build, with one customer
signing a letter of intent to purchase 10
525 helicopters. As Bell moves forward
with the Bell 505 Jet Ranger X, it has
received a tremendous reception with
nearly 300 letters of intent from customers
in 39 countries. On the military side, the
V-22 continued to prove its value and
increase its mission capabilities. Bell
successfully demonstrated the V-22’s
forward-ring capability, hitting targets
using a variety of forward-facing muni-
tions, including rockets and missiles. The
V-22 has now surpassed 250,000 ight
hours since it was rst deployed in 2007
with the U.S. Marine Corps and the Air
Force Special Operations Command.
Throughout 2014, we also saw our Textron
Systems businesses win numerous
contract awards, including a $34 million
contract award from the U.S. Navy for our
rst Common Unmanned Surface Vehicle;
a $44 million contract award from the U.S.
Air Force for its Joint Service Electronic
Combat Systems Tester, which tests
electronic combat and avionics systems
for today’s most advanced combat aircraft;
and a $190 million foreign military sales
contract for precision munitions with
South Korea. Meanwhile, we began
production on the Ship-to-Shore Connector
program, the Navy’s next-generation
amphibious landing craft, and our
Aerosonde Small Unmanned Aircraft
System reached a milestone by surpassing
40,000 ight hours powered by Lycoming
Engines’ new multifuel engine.
At our Industrial businesses, we continued
to nd creative ways to meet the needs of
our customers—whether they are auto
manufacturers, groundskeepers, electrical
contractors or outdoor enthusiasts.
Greenlee expanded its lineup, introducing
products such as the DataScout 10G, a
new multiprotocol network analyzer that
represents the company’s entry into the
Ethernet market. Jacobsen rolled out a
completely refreshed TurfCat front rotary
mower, while Textron Specialized Vehicles
introduced the Bad Boy Buggies Recoil iS
Crew, an all-electric hunting vehicle
packed with passenger comfort innova-
tions. The E-Z-GO brand celebrated its
60th anniversary, and our Textron
Specialized Vehicles businesses now
manufacture more than 70 different
equipment models, ranging from golf cars
to aviation ground-support equipment.
In the automotive market, Kautex
partnered with major automakers in a
multiyear development project for a
hydrogen pressure tank designed for fuel
cells. The company also won a contract
with Volkswagen to supply an expected
1.1 million fuel tanks annually for vehicles
serving the European markets with an
option for nearly 1 million fuel tanks to
Volkswagen Brazil.
INVESTING TO WIN WORLDWIDE
By staying true to our long-term strategy
of investing in great brands and new
products, we achieved strong growth in
2014. Our businesses are focused on
executing these strategies, moving quickly
and decisively to meet customers’ needs.
Our talented teams are focused on new
opportunities, pioneering inventive ways
to grow their markets. We’re looking
forward to 2015 and beyond as we build
on this strong foundation and create
long-term value for our customers, our
employees and our shareholders.
SCOTT C. DONNELLY
Chairman and Chief Executive Ofcer