The 2020 Mid-Year Economic Update_long

Textron’s Greenlee Unit Acquires Endura-Greenlee Tools

Company buys remaining interest in joint venture from partners.

Greenlee, a company of Textron Co. (NYSE: TXT), Providence, RI, has acquired from its joint venture partners the remaining interest in Endura-Greenlee Tools Co. Ltd., Shanghai, China, a professional hand tools manufacturer for residential, construction, industrial and automotive channels.

Greenlee established the Endura-Greenlee Tools joint venture in 2010 to expand Greenlee’s presence in China through application of innovative technologies and leveraging the distribution network. Endura-Greenlee Tools specializes in designing, manufacturing, and marketing high-quality hand tools for global professional trades and industrial and construction markets.

“This strategic acquisition is a unique opportunity to provide greater value to our customers in the Chinese markets with Textron’s extended resources," said Scott Hall, president of Textron’s Industrial Segment.

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