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UPDATE 1-Textron sees $43 mln charge for canceled program

Thu Jul 9, 2009 5:11pm EDT

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* Sees $43 mln charge for Citation cancellation

* Canceled Citation due to corporate jet slump

BOSTON, July 9 (Reuters) - Textron Inc (TXT.N), the world's largest maker of corporate aircraft, said on Thursday it expects to take a $43 million pretax noncash charge due to its cancellation of the Columbus Citation aircraft program.

The Providence, Rhode Island-based company said in a filing with the U.S. Securities and Exchange Commission that it expects to book the charge in its second fiscal quarter.

Textron said in April it was pulling the plug on the Citation, which would have been its largest aircraft, as a result of the sharp downturn in demand for corporate jets. (Reporting by Scott Malone; editing by Andre Grenon)



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