Textron Systems & General Kinetics Sign MoU for TAPV Project

Textron Systems Canada Inc., a Textron Inc. (NYSE:TXT) company, today announced that the company has signed a memorandum of understanding (MoU) with General Kinetics for possible work on the Textron Tactical Armoured Patrol Vehicle (TAPV) for the Canadian Forces. Textron has submitted a proposal to supply 500 vehicles to the Canadian Army with an option for up to 100 additional TAPVs, all to be outfitted with shock absorbers designed for military use by General Kinetics, a 100 employee small business in southern Ontario.

General Kinetics, for more than 30 years, has designed and manufactured high performance suspension systems and components to meet the unique needs of the worldwide military vehicle market from its facility in Brampton, Ontario. The Textron TAPV would be equipped with General Kinetics armoured vehicle grade shock absorbers. The MoU represents a substantial opportunity for General Kinetics that would create or maintain employment and have a positive effect on the local economy.

"The Government of Canada has stated it wants to procure the best possible equipment for the Canadian Army. We have engaged great partners like General Kinetics to ensure that the Textron TAPV we propose to deliver will be the best option to protect Canadian soldiers," said Neil Rutter, general manager of Textron Systems Canada.

The Textron TAPV is the most reliable and technologically advanced vehicle of its kind, and it draws on the company's more than 45 years of experience in the design and production of armoured vehicles. A technology readiness level 8 vehicle, the Textron TAPV will provide the Canadian Forces with the optimal balance of survivability, mobility and versatility, while delivering outstanding performance in the world's most challenging environments. Extensively tested to confirm ballistic, blast, mobility and reliability levels, the Textron TAPV has been engineered to meet and exceed Canada's requirements.

If awarded the TAPV contact, Textron Systems Canada will become the prime contractor for the program; and through its Industrial and Regional Benefits obligations to Canada, Textron expects to bring new opportunities to other Canadian companies.

Textron currently employs more than 1,800 Canadians at its Textron Systems Canada, Bell Helicopter and Kautex facilities in Canada. Textron companies have procured more than $3.5 billion of materials manufactured by Canadian supplier companies in the past three years.

Source: Textron Systems Canada Inc.
Date: Mar 22, 2012