Bell CEO Mitch Snyder Discusses Challenges to the Industrial Base During COVID-19

During an online event hosted by the Center for Strategic and International Studies (CSIS) Defense-Industrial Initiatives Group, President and CEO of Bell Mitch Snyder virtually participated in a panel discussion about industrial impact from COVID-19 with Nazzic S. Keene, Chief Executive Officer of SAIC, and General Hawk Carlisle USAF (Ret), President & CEO of National Defense Industrial Association. Snyder describes Bell's business environment as "positive".

"We just finished the best first quarter we've had in years and are having a great second quarter, so far. Productivity is up; everyone is focused on work," said Mitch Snyder. "We contacted over 1000 suppliers individually, and we have 90% of our supply base still operating. We worked with the local governments to ensure that our businesses in other countries are still deemed essential. The reaction has been positive and has allowed us to accelerate our military business and adjust deliveries of commercial aircraft." As for the "war for talent," he says that the "excitement of the mission is still drawing people to Bell."

Watch the full discussion below:

About Bell

Thinking above and beyond is what we do. For more than 85 years, we’ve been reimagining the experience of flight – and where it can take us.

We are pioneers. We were the first to break the sound barrier and to certify a commercial helicopter. We were a part of NASA’s first lunar mission and brought advanced tiltrotor systems to market. Today, we’re defining the future of advanced air mobility.

Headquartered in Fort Worth, Texas – as a wholly-owned subsidiary of Textron Inc., – we have strategic locations around the globe. And with nearly one quarter of our workforce having served, helping our military achieve their missions is a passion of ours.

Above all, our breakthrough innovations deliver exceptional experiences to our customers. Efficiently. Reliably. And always, with safety at the forefront.

About Textron

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, Textron Systems, and TRU Simulation + Training. For more information, visit: www.textron.com.

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, changes in aircraft delivery schedules or cancellations or deferrals of orders; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; changes in government regulations or policies on the export and import of our products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; volatility in interest rates or foreign exchange rates; and risks related to our international business, including establishing and maintaining facilities in locations around the world and relying on joint venture partners, subcontractors, suppliers, representatives, consultants and other business partners in connection with international business, including in emerging market countries.

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