Company News

Textron expands parts business capabilities, eyes aftermarket services

LAS VEGAS, Oct 21 (Reuters) - Textron Inc on Monday announced a further expansion of its global parts distribution facilities as corporate planemakers eye growth in their higher-margin aftermarket service businesses.

Corporate plane makers are banking on sales of new products and maintenance packages to boost revenues, even as they introduce new models of corporate jets.

Textron Aviation, which produces Cessna Aircraft, said it grew warehouse square footage at three U.S. locations by nearly 50%, to over 8,000 square feet. The U.S. expansion follows Textron’s plans to make parts more readily available to customers in Europe and Asia-Pacific earlier this year.

Textron’s announcement comes ahead of the world’s largest business jet show, which kicks off on Tuesday, featuring new large corporate planes that can fly farther and an industry push toward sustainable aviation fuels.

Reporting By Allison Lampert in Las Vegas Editing by Nick Zieminski