Textron 'not interested' in Raytheon jet business

Fri Jul 28, 2006 10:08am ET

BOSTON, July 28 (Reuters) - Diversified manufacturer Textron Inc. (TXT.N: Quote, Profile, Research) is "not interested" in buying defense contractor Raytheon Co.'s (RTN.N: Quote, Profile, Research) corporate jet business, a Textron spokeswoman said on Friday.

Raytheon on Thursday said it would seek to sell its small-jet unit, which makes Beechcraft and Hawker business and training planes. It competes with Textron's Cessna unit.

Kim Reingold, a spokeswoman for Providence, Rhode Island-based Textron, said that in making acquisitions, Textron would be "looking at businesses that are complementary to our existing portfolio," rather than building up businesses it was already engaged in.

© Reuters 2006. All Rights Reserved.