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Textron retains fuel systems unit after strategic review

Textron Inc. decided to continue operating Kautex Textron Gmbh & Co. KG following a strategic review of the business unit producing fuel systems for cars and light trucks.

"After careful consideration, Textron has determined that the interests of its shareholders are best served if Kautex continues as a Textron business unit," the company said in a Dec. 23 filing.

The company announced in August that it was exploring strategic alternatives for Kautex, including options to sell or spin off the unit. Kautex made $2.3 billion in revenue in 2018.

Goldman Sachs & Co. LLC assisted Textron in the review as financial adviser.