Textron Financial Canada Limited Acquires $66
Million Canadian Golf Portfolio
Move Cements Position as Canada's Leading Golf
Burlington, ON – February 1, 2006 – Textron Financial
Canada Limited, a unit of Textron Inc. (NYSE: TXT), announced
today the acquisition of a $66 million (Canadian) portfolio
of 24 golf course mortgage loans. The acquisition of this portfolio
firmly ensconces Textron Financial in the Canadian golf market,
while adding to a portfolio that positions the company as the
world's leader in golf course finance and the industry's "Total
Golf Solution" provider.
This portfolio's new home provides tremendous potential for
growth and development through parent company Textron's synergistic
customer offering known as the "Total Golf Solution" — a
bundled package approach that allows courses to procure golf
carts through E-Z-GO (a Textron company), obtain turf equipment
through Jacobsen (also a Textron company), and finance the
equipment, as well as mortgages, through Textron Financial
Corporation. Textron Financial has provided more than $2 billion
(US) in financing to the golf industry world-wide since 1989.
Textron Financial Canada Limited Vice President Chris Sharp
believes the acquisition, "Demonstrates Textron Financial's
commitment to the Canadian golf industry and will allow Canadian
golf course owners to further benefit from the company's one-stop
shop approach to fostering and providing all course needs from
beginning to end. There are no other turf, car or finance companies
that can match the breadth and depth of our golf service offerings."
About Textron Financial Corporation
Textron Financial is a diversified commercial finance company
with over $8 billion in managed and serviced finance receivables.
It has core businesses in Aviation Finance, Asset-Based Lending,
Distribution Finance, Golf Finance, Resort Finance, and Structured
Capital. Textron Financial also provides financing programs
for products manufactured by its parent company; Textron Inc.
Additional information about the company is available at www.textronfinancial.com.
Textron Inc. is a $10 billion multi-industry company with
46,000 employees operating in 36 countries. The company leverages
its global network of aircraft, industrial and finance businesses
to provide customers with innovative solutions and services.
Textron is known around the world for its powerful brands such
as Bell Helicopter, Cessna Aircraft, Jacobsen, Kautex, Lycoming,
E-Z-GO and Greenlee, among others. More information is available