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Textron exploring options for fuel systems unit Kautex

Textron Inc. is exploring strategic alternatives for Kautex Textron Gmbh & Co. KG, the company's business unit producing fuel systems for cars and light trucks.

The options being explored for Kautex include a potential sale or tax-free spinoff, Textron said Aug. 5, adding that the company has not set a definitive timetable for completion of its review of strategic alternatives, and there can be no assurance that the process will result in any transaction being announced or completed in the future.

Textron tapped Goldman Sachs & Co. LLC as financial adviser to assist in the review.

Operating more than 30 plants in 14 countries, Kautex made $2.3 billion in revenue in 2018.