Textron Financial Announces Formation
of Technology Finance Division
Providence, Rhode Island -
January 30, 2001 -
Textron Financial Corporation announced today that it has established
a new lending group, Technology Finance Division, as a result
of its purchase of
certain assets of the Distribution & Channel Finance Division of FINOVA Capital
Corporation in December 2000. The Technology Finance Division offers various
forms of financing to the telecommunications industry, including leasing, short-term
and working capital financing, term loans, and private label financing.
John C. Reed will lead the Technology Finance
Division as senior vice president and division manager. Reed joins
Textron Financial along with a small group of employees from Finova
Capital as part of this portfolio acquisition. "We are excited
to have John and his outstanding team join our company, and look
forward to building new relationships with the telecommunications
customers in this portfolio," stated Jerry Britton, group president
at Textron Financial.
"Our goal is to use our unique finance platform,
augmented by a state-of the-art Internet product, to become the
premier lending source for telecommunications equipment manufacturers,
distributors and end-users," explained Reed.
About Textron Financial
Textron Financial is a diversified commercial finance company with $8.2 billion
in managed receivables and twenty-two years of record earnings. Its market-aligned
businesses provide lending and leasing to small and middle market companies,
and financial services that include asset management, syndications, portfolio
servicing, and insurance brokerage. Textron Financial also provides specialty
finance for the golf and timeshare industries. Additional information about
the company is available at www.tfc.textron.com.
About Textron Inc.
Textron Inc. (NYSE:TXT) is a $13 billion, global, multi-industry company with
market-leading businesses in Aircraft, Automotive, Fastening Systems, Industrial
Products, and Finance. Textron has a workforce of over 70,000 employees and
major manufacturing facilities in 30 countries. Textron is among Fortune
magazine's "Global Most Admired Companies." Additional information is available
on www.textron.com.
![[Textron Financial]](../images/tf_logo.gif){kind=logo}
