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Textron Selling HR Textron Business Unit To Woodward Governor

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By Calvin Biesecker Reeling financially from losses in its finance business and a difficult economy in general, Textron [TXT] on Friday said it has agreed to sell one of its defense business units to Woodward Governor Co. [WGOV] in a deal that will generate about $265 million in cash after taxes. Textron is selling its HR Textron business unit for $365 million. The business makes actuation systems, turret controls, gun stabilization systems, servovalves and fuel system components to a range…

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