UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of
Report (Date of earliest event reported): August 22, 2007
TEXTRON
INC.
(Exact
name of Registrant as specified in its charter)
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Delaware
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I-5480
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05-0315468
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(State
of
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(Commission
File Number)
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(IRS
Employer
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Incorporation)
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|
|
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Identification
Number)
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40
Westminster Street, Providence, Rhode Island 02903
(Address
of principal executive offices)
Registrant’s
telephone number, including area code: (401) 421-2800
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instructions A.2. below):
[
]
Written communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
[
]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
[
]
Pre-commencement communications pursuant to Rule 13e-4(c)) under the Exchange
Act (17 CFR 240.13e-4(c))
Item
8.01 Other
Events
On
August
22, 2007, Textron resolved investigations by the U.S. Securities and
Exchange Commission (SEC) and U.S. Department of Justice (DOJ) relating to
payments made by subsidiaries in its Fluid & Power business unit and
voluntarily reported to the two agencies by Textron.
Most
of
the payments were “after sales service fees” paid to Iraq by Textron's fifth
tier French subsidiaries in connection with the United Nations’ Oil for Food
Program. A number of small Fluid & Power payments unrelated to
the Oil for Food Program were also investigated, reported to the agencies
and
resolved as part of the settlements.
Textron
has consented to the entry of a civil injunction in an action brought by
the SEC
and has entered into a letter agreement with the DOJ in which the DOJ has
agreed
not to prosecute Textron or its subsidiaries or affiliates. Both
settlements call for remedial actions that are being implemented and that
are
consistent with Textron’s longstanding policy against improper
payments. In addition, Textron has agreed to pay a total of $4.685
million to the agencies in the form of disgorgement of profits, penalties
and
interest. This amount was fully provided for in prior
periods.
There
are
no criminal charges involved in the settlements and no Textron officers were
involved. Disciplinary action has been taken with respect to certain
individuals involved in the matter, including in some cases, termination
of
employment.
A
copy of
the press release related to these events is attached as Exhibit
99.1.
Item
9.01 Financial
Statements and Exhibits
(d)
Exhibits
The
following exhibits are filed
herewith:
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Exhibit
Number
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Description
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99.1
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Press
release dated August 23, 2007
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
TEXTRON
INC.
(Registrant)
By:
/s/Terrence O'Donnell
Terrence O'Donnell
Executive Vice President and
General Counsel
Date: August
24, 2007
EXHIBIT
INDEX
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Exhibit
No.
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Description
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99.1
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Press
release dated August 23, 2007
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