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| TXT > SEC Filings for TXT > Form 8-K on 17-Oct-2008 | All Recent SEC Filings |
17-Oct-2008
Other Events
Late on October 16, 2008, Textron Inc. ("Textron") was notified by the U.S. Department of Defense that the U.S. Army Armed Reconnaissance Helicopter (ARH) program will not be certified for continuation.
As of October 16, 2008, Textron estimates that its inventory and vendor obligations incurred with respect to the ARH program total approximately $95 - $100 million, and reserves for this program total $50 million.
Textron is currently evaluating several avenues by which it believes that it may be able to recover some or all of its investment in inventory and its obligations to vendors.
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