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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>/in/edgar/work/20000626/0000217346-00-000004/0000217346-00-000004.txt : 20000920
<SEC-HEADER>0000217346-00-000004.hdr.sgml : 20000920
ACCESSION NUMBER:		0000217346-00-000004
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	19991231
FILED AS OF DATE:		20000626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEXTRON INC
		CENTRAL INDEX KEY:			0000217346
		STANDARD INDUSTRIAL CLASSIFICATION:	 [3720
]		IRS NUMBER:				050315468
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231
</COMPANY-DATA>

		FILING VALUES:
			FORM TYPE:		11-K
			SEC ACT:		
			SEC FILE NUMBER:	001-05480
			FILM NUMBER:		660597
</FILING-VALUES>

			BUSINESS ADDRESS:	
				STREET 1:		40 WESTMINSTER ST
				CITY:			PROVIDENCE
				STATE:			RI
				ZIP:			02903
				BUSINESS PHONE:		4014212800
</BUSINESS-ADDRESS>

				MAIL ADDRESS:	
					STREET 1:		40 WESTMINSTER ST
					CITY:			PROVIDENCE
					STATE:			RI
					ZIP:			02903
</MAIL-ADDRESS>

					FORMER COMPANY:	
						FORMER CONFORMED NAME:	AMERICAN TEXTRON INC
						DATE OF NAME CHANGE:	19710510
</FORMER-COMPANY>
</FILER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>0001.htm
<TEXT>

<HTML>

<head>
<TITLE>SECURITIES AND EXCHANGE COMMISSION</TITLE>
</head>

<body>

<font FACE="Classic">
<p ALIGN="JUSTIFY">&nbsp;</p>
<p ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</p>
<p ALIGN="CENTER">&nbsp;</p>
<p ALIGN="CENTER">WASHINGTON, D.C. 20549</p>
<p ALIGN="CENTER">&nbsp;</p>
<p ALIGN="CENTER">FORM 11&#45;K</p>
<p ALIGN="JUSTIFY">&nbsp;</p>
</font>
<table CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td WIDTH="9%" VALIGN="TOP"><font FACE="Classic">
      <p ALIGN="JUSTIFY">[X]</font></td>
    <td WIDTH="91%" VALIGN="TOP"><font FACE="Classic">
      <p>ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE<br>
      SECURITIES EXCHANGE ACT OF 1934</font></td>
  </tr>
  <tr>
    <td WIDTH="9%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="91%" VALIGN="TOP"><font FACE="Classic">
      <p>for the fiscal year ended December 31, 1999<br>
      Commission File Number 1&#45;5480</font></td>
  </tr>
</TABLE>
<blockquote>
  <blockquote>
    <blockquote>
      </blockquote>
    </blockquote>
  </blockquote>
      <font FACE="Classic">
</font>
<table CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td WIDTH="9%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="7%" VALIGN="TOP"><font FACE="Classic">
      <p ALIGN="JUSTIFY">A.</font></td>
    <td WIDTH="84%" VALIGN="TOP"><font FACE="Classic">
      <p ALIGN="JUSTIFY">Full title of the plan and address of the plan:</font></td>
  </tr>
</TABLE>
<font FACE="Classic">
<p ALIGN="CENTER">ELCO THERMOPLASTICS INC.<br>
PROFIT SHARING PLAN</p>
</font>
<table CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td WIDTH="9%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="7%" VALIGN="TOP"><font FACE="Classic">
      <p ALIGN="JUSTIFY">B.</font></td>
    <td WIDTH="84%" VALIGN="TOP"><font FACE="Classic">
      <p>Name of issuer of the securities held pursuant to<br>
      the plan and address of its principal executive office:</font></td>
  </tr>
</TABLE>
<font FACE="Classic">
<p ALIGN="JUSTIFY">&nbsp;</p>
<p ALIGN="CENTER">TEXTRON INC.</p>
<p ALIGN="CENTER">40 Westminster Street</p>
<p ALIGN="CENTER">Providence, Rhode Island 02903</p>
<blockquote>
  <blockquote>
    <p ALIGN="JUSTIFY">REQUIRED INFORMATION</p>
    <u>
    <p ALIGN="JUSTIFY">Financial Statements and Exhibit</p>
    </u>
    <p ALIGN="JUSTIFY">The following Plan financial statements and schedules
    prepared in accordance with the financial reporting requirements of the
    Employee Retirement Income Security Act of 1974 are filed herewith, as
    permitted by Item 4 of Form 11&#45;K:</p>
    <p ALIGN="JUSTIFY">Report of Independent Auditors<br>
    Statement of Assets Available for Benefits for each of<br>
    the two years ended December 31, 1999 and 1998<br>
    Statement of Changes in Assets Available for Benefits<br>
    for each of the two years ended December 31, 1999 and
    1998<br>
    Notes to financial statements</p>
    <p ALIGN="JUSTIFY">Supplemental Schedule:</p>
    <p ALIGN="JUSTIFY">Schedule H, Line 4i &#45; Schedule of Assets Held for
    Investment Purposes at End of Year</p>
    <p ALIGN="JUSTIFY">The Consent of Independent Auditors is filed as an
    exhibit to this Annual Report.</p>
  </blockquote>
</blockquote>
<p ALIGN="JUSTIFY">&#160;&#160;&#160;&#160;&#160;&#160;Pursuant
to the requirements of the Securities Exchange Act of 1934, the trustees (or
other persons who administer the employee benefit plan) have duly caused this
Annual Report on Form&#160;11&#45;K to be signed by the undersigned
hereunto duly authorized.</p>
</font>
<table CELLSPACING="0" CELLPADDING="1" WIDTH="590">
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP"><font FACE="Classic">
      <p>ELCO THERMOPLASITCS INC.<br>
      PROFIT SHARING PLAN</font></td>
  </tr>
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP"><font FACE="Classic">
      <p>ELCO TEXTRON INC., Plan Administrator</font></td>
  </tr>
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP"><font FACE="Classic">
      <p>By:/s/Robert Hammes</font></td>
  </tr>
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP">
      <blockquote>
          <font FACE="Classic">
          <p>Secretary
        </blockquote>
      </font></td>
  </tr>
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP"><font FACE="Classic">
      <p>Date: June 26, 2000</font></td>
  </tr>
</TABLE>
<b><font SIZE="2">
<p ALIGN="CENTER">&nbsp;
</p>
<p ALIGN="CENTER">Financial Statements<br>
and Supplemental Schedule<br>
</p>
<p ALIGN="CENTER">Elco Thermoplastics, Inc. Profit Sharing Plan<br>
</p>
<p ALIGN="CENTER">Years ended December 31, 1999 and 1998<br>
</p>
</font></b><font SIZE="4">
<p ALIGN="CENTER">Elco Thermoplastics, Inc. Profit Sharing Plan<br>
</p>
<p ALIGN="CENTER">Financial Statements and<br>
Supplemental Schedule<br>
</p>
</font><font SIZE="2">
<p ALIGN="CENTER">Years ended December 31, 1999 and 1998<br>
</p>
</font><b><font SIZE="4">
<p ALIGN="CENTER">Contents</p>
</font></b>
<table CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td WIDTH="74%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">Report of Independent Auditors</td>
    <td WIDTH="26%" VALIGN="TOP">
      <p ALIGN="RIGHT" style="margin-right: 50">&#160;1</td>
  </tr>
  <tr>
    <td WIDTH="74%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="26%" VALIGN="TOP">
      <p style="margin-right: 50">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="74%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">Financial Statements</td>
    <td WIDTH="26%" VALIGN="TOP">
      <p style="margin-right: 50">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="74%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="26%" VALIGN="TOP">
      <p style="margin-right: 50">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="74%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">Statements of Assets Available for Benefits</td>
    <td WIDTH="26%" VALIGN="TOP">
      <p ALIGN="RIGHT" style="margin-right: 50">&#160;2</td>
  </tr>
  <tr>
    <td WIDTH="74%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">Statements of Changes in Assets Available for Benefits</td>
    <td WIDTH="26%" VALIGN="TOP">
      <p ALIGN="RIGHT" style="margin-right: 50">&#160;3</td>
  </tr>
  <tr>
    <td WIDTH="74%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">Notes to Financial Statements</td>
    <td WIDTH="26%" VALIGN="TOP">
      <p ALIGN="RIGHT" style="margin-right: 50">&#160;4</td>
  </tr>
  <tr>
    <td WIDTH="74%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="26%" VALIGN="TOP">
      <p style="margin-right: 50">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="74%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">Supplemental Schedule</td>
    <td WIDTH="26%" VALIGN="TOP">
      <p style="margin-right: 50">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="74%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="26%" VALIGN="TOP">
      <p style="margin-right: 50">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="74%" VALIGN="TOP">
      <p>Schedule H, Line 4i, Schedule of Assets Held for<br>
      &#160;&#160;Investment Purposes at End of Year</td>
    <td WIDTH="26%" VALIGN="TOP">
      <p ALIGN="RIGHT" style="margin-right: 50">&#160;<br>
      9</td>
  </tr>
</TABLE>
<font SIZE="2">
</font><font SIZE="4">
<p ALIGN="CENTER">Report of Independent Auditors</p>
</font><font SIZE="2">
<p>Elco Thermoplastics, Inc. Profit Sharing Plan<br>
Administration Committee</p>
<p>We have audited the accompanying statements of assets available for benefits
of the Elco Thermoplastics, Inc. Profit Sharing Plan as of December 31, 1999 and
1998, and the related statements of changes in assets available for benefits for
the years then ended. These financial statements are the responsibility of the
Plan&#39;s management. Our responsibility is to express an opinion on these
financial statements based on our audits.</p>
<p>We conducted our audits in accordance with auditing standards generally
accepted in the United States. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our </font><font SIZE="3">opinion.</p>
</font><font SIZE="2">
<p>In our opinion, the financial statements referred to above present fairly, in
all material respects, the assets available for benefits of the Plan at December
31, 1999 and 1998, and the changes in its assets available for benefits for the
years then ended, in conformity with accounting principles generally accepted in
the United States.</p>
<p>Our audits were performed for the purpose of forming an opinion on the
financial statements taken as a whole. The accompanying supplemental schedule of
assets held for investment purposes at end of year as of December 31, 1999, is
presented for purposes of additional analysis and is not a required part of the
financial statements but is supplementary information required by the Department
of Labor&#39;s Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974. The supplemental schedule is
the responsibility of Plan&#39;s management. The supplemental schedule has
been subjected to the auditing procedures applied in our audits of the financial
statements and, in our opinion, is fairly stated in all material respects in
relation to the financial statements taken as a whole.</p>
<p>&nbsp;</p>
<blockquote>
  <blockquote>
    <blockquote>
      <blockquote>
        <blockquote>
          <blockquote>
<p>ERNST & YOUNG LLP</p>
          </blockquote>
        </blockquote>
      </blockquote>
    </blockquote>
  </blockquote>
</blockquote>
</font><font FACE="Times" SIZE="2">
<p>May 11, 2000</p>
</font><font FACE="Times" SIZE="4">
<p ALIGN="CENTER">Elco Thermoplastics, Inc. Profit Sharing Plan<br>
</p>
<p ALIGN="CENTER">Statements of Assets Available for Benefits<br>
</p>
</font>
<table CELLSPACING="1" WIDTH="572">
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="40%" VALIGN="TOP" COLSPAN="2"><b><font SIZE="2">
      <p ALIGN="CENTER">December 31</font></b></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="CENTER">1999</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="CENTER">1998</font></b></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP"><b><font SIZE="2">
      <p>Assets</font></b></td>
    <td WIDTH="20%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
        <p style="margin-left: 0">Investments, at fair value
    </td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">$5,398,683</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">$5,086,952</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP"><font SIZE="2">
      <p>Receivables:</font></td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
      <p style="margin-left: 15">&#160;&#160;Participant contributions</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">35,513</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">32,690</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
      <p style="margin-left: 15">&#160;&#160;Employer&#39;s contributions</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">183,545</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">231,048</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
        <p style="margin-left: 0">Total receivables
    </td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">219,058</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">263,738</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP"><font SIZE="2">
      <p>Assets available for benefits</font></td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">$5,617,741</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">$5,350,690</font></td>
  </tr>
</TABLE>
<font SIZE="2">
<i>
<p>See accompanying notes.</p>
</i>
<p>&nbsp;</p>
</font><font FACE="Times" SIZE="4">
<p ALIGN="CENTER">Elco Thermoplastics, Inc. Profit Sharing Plan<br>
</p>
<p ALIGN="CENTER">Statements of Changes in Assets Available for Benefits<br>
</p>
</font>
<table CELLSPACING="1" WIDTH="572">
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="40%" VALIGN="TOP" COLSPAN="2"><b><font SIZE="2">
      <p ALIGN="CENTER">Year ended December 31</font></b></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="CENTER">1999</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="CENTER">1998</font></b></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
        <p>Additions:
    </td>
    <td WIDTH="20%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
        <p>Investment income:
    </td>
    <td WIDTH="20%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP"><font FACE="New York">
      <p align="left" style="margin-left: 25">Net realized and unrealized appreciation in fair<br>
      &nbsp;&nbsp;&nbsp;&nbsp; value of investments</font></td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20"><br>
      $ 79,062</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20"><br>
      $ 361,951</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
        <font FACE="New York">
        <p>&nbsp; Interest and dividends
      </font></td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">271,097</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">293,018</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">350,159</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">654,969</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
        <p>Contributions:
    </td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
      <p style="margin-left: 25">Participants</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">388,715</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">316,860</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
      <p style="margin-left: 25">Employer</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">307,162</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">327,861</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">695,877</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">644,721</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
        <p>Total additions
    </td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">1,046,036</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">1,299,690</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
        <p>Deductions:
    </td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP"><font FACE="New York">
      <p style="margin-left: 25">Benefits paid to participants</font></td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">778,985</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">463,104</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP"><font FACE="New York">
      <p style="margin-left: 25">Other</font></td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">&#45;</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">11,236</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
        <font FACE="New York">
        <p>Total deductions
      </font></td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">778,985</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">474,340</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
        <p>Net increase
    </td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">267,051</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">825,350</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
        <p>Assets available for benefits at beginning of year
    </td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">5,350,690</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">4,525,340</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
        <p>Assets available for benefits at end of year
    </td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">$5,617,741</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">$5,350,690</font></td>
  </tr>
</TABLE>
<font SIZE="2"><i>
<p>See accompanying notes.</p>
</i></font><font FACE="Times" SIZE="4">
<p ALIGN="CENTER">Elco Thermoplastics, Inc. Profit Sharing Plan<br>
</p>
<p ALIGN="CENTER">Notes to Financial Statements<br>
</p>
<p ALIGN="CENTER">
</font><b><font FACE="Times" SIZE="2">
Years ended December 31, 1999 and 1998</p>
</font><font SIZE="2">
<p>1.&nbsp;&nbsp; Description of the Plan</p>
</font></b><font SIZE="2">
<p>The following brief description of the Elco Thermoplastics, Inc. Profit
Sharing Plan (the Plan) is provided for general information only. Participants
should refer to the Summary Plan Description and Plan document for more complete
information.</p>
<b>
<p>General</p>
</b>
<p>The Plan is a defined contribution plan formed to provide
profit&#45;sharing benefits to employees of Elco Thermoplastics Inc. (the
Company), a subsidiary of Elco Textron Inc., and to provide for participant
tax&#45;deferred savings under Section 401(k) of the Internal Revenue Code (IRC).
All full&#45;time employees of the Company with one year of service are
eligible to participate in the Plan. Participants have a 100% vested interest in
their account balances. The Plan is subject to the provisions of the Employee
Retirement Income Security Act of 1974 (ERISA).</p>
<b>
<p>Contributions</p>
</b>
<p>Active participants may make contributions as defined in the Plan. Such
contributions may be in the form of Employee Deferral Contributions (as a
percentage of the participant&#39;s compensation) or Nondeductible Employee
Contributions. The Company will contribute an amount equal to 50% of the
Employee Deferral Contributions related to the first 4% to 6% of earnings, as
defined (3% prior to March 1, 1998). Additional Company contributions may be
made at the sole discretion of the Board of Directors. The Company made
discretionary contributions of $170,877 and $215,884 in the years ended December
31, 1999 and 1998, respectively.</p>
<b>
<p>Participant Notes Receivable</p>
</b>
<p>Participants may borrow from their fund accounts up to a maximum equal to the
lesser of $50,000 or 50% of their vested account balance relating to participant
contributions only. Loan terms range from 1&#45;5 years or longer if for the
purchase of a home. The loans are secured by the balance in the
participant&#39;s account and bear interest at the current prime rate plus
1%. Principal and interest is paid ratably through monthly payroll deductions.</p>
<b>
<p>Investment Options</p>
</b>
<p>Participants are allowed to direct employer and employee contributions (and
related earnings) in 10% increments in any of six investment fund options.
Participants may change their investment options quarterly.</p>
<b>
<p>Participant Accounts</p>
</b>
<p>Employee contributions and the Company&#39;s matching contribution are
allocated to each respective participant account. The additional Company
contribution, if any, is allocated to participant accounts based on participant
compensation, as defined by the Plan, and their years of service in relation to
the total of such amounts for all participants.</p>
<p>The allocation of Plan income or loss to participants is made in the same
ratio that a participant&#39;s account bears to the sum of the balance of
all participants&#39; accounts, taking into consideration the dates on which
additional contributions and withdrawals are made. Participant account balances
are valued daily by the Plan&#39;s recordkeeper based on the value of the
number of shares owned in each investment fund.</p>
<b>
<p>Benefit Payments</p>
</b>
<p>The benefit to which a participant is entitled is the benefit that can be
provided from the participant&#39;s account balance.</p>
<b>
<p>2.&nbsp;&nbsp; Significant Accounting Policies</p>
<p>Basis of Accounting</p>
</b>
<p>The financial statements have been prepared on the accrual basis of
accounting.</p>
<b>
<p>Investment Valuation</p>
</b>
<p>The Plan&#39;s investments are stated at fair value. The shares of the
registered investment companies are valued at quoted market prices which
represent the net asset values of the shares held by the Plan at year end.
Shares of Textron Inc. common stock are valued based on quoted market values.
Money market funds are reported at cost which approximates fair value.
Participant notes receivable are valued at their outstanding balances, which
approximate fair value.</p>
<p>Purchases and sales of securities are recorded on a trade&#45;date basis.
Interest income is recorded on the accrual basis. Dividends are recorded on the
ex&#45;dividend date.</p>
<b>
<p>Use of Estimates</p>
</b>
<p>The preparation of financial statements in accordance with accounting
principles generally accepted in the United States requires management to make
estimates and assumptions that affect the amounts reported in the financial
statements and accompanying notes. Actual results could differ from those
estimates.</p>
<b>
<p>Administrative Expenses</p>
</b>
<p>Administrative expenses of the Plans are generally paid by the Company.</p>
<b>
<p>Reclassification</p>
</b>
<p>The Plan has adopted Statement of Position 99&#45;3, &#147;Accounting
for and Reporting of Certain Defined Contribution Benefit Plan Investments and
Other Disclosure Matters&#148; for the 1999 financial statement
presentation. Accordingly, 1998 amounts have been reclassified to conform with
Statement of Position 99&#45;3.</p>
<b>
<p>3.&nbsp;&nbsp; Plan Termination</p>
</b>
<p>Although it has not expressed any intent to do so, the Company has the right
under the Plan to discontinue its contributions at any time and to terminate the
Plan subject to the provisions of ERISA and the collective bargaining agreement.</p>
<b>
<p>4.&nbsp;&nbsp; Investments</p>
</b>
<p>The Plan&#39;s investments were held by a Trustee in a
bank&#45;administered trust fund. Effective October 1, 1998, Trustee
responsibilities and all Plan assets were transferred from National City Bank to
Putnam Fiduciary Trust Company (Putnam).</p>
<p>The fair value of individual investments that exceed five percent of the
Plan&#39;s assets at December 31, is as follows:</p>
</font>
<table CELLSPACING="1" WIDTH="578">
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="CENTER">1999</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="CENTER">1998</font></b></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
      <p>Textron Inc.&#45;&#45;common stock</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">$1,487,616</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">$1,472,455</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">The George Putnam Fund of Boston</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">1,510,172</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">1,600,539</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">One Group Equity Index Fund</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">1,604,451</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">&#45;</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">One Group Prime Money Market Fund</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">732,015</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">&#45;</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">Pegasus Equity Index Fund</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">&#45;</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">1,394,452</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">Pegasus Money Market Fund</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">&#45;</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">600,222</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
    <td WIDTH="20%" VALIGN="TOP">
      <p style="margin-right: 20">&nbsp;</p>
    </td>
  </tr>
</TABLE>
<font SIZE="2">
<p>During 1999 and 1998, the Plan&#39;s investments (including investments
purchased, sold, as well as held during the year) appreciated in fair value, as
follows:</p>
</font>
<table CELLSPACING="1" WIDTH="578">
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="40%" VALIGN="TOP" COLSPAN="2"><b><font SIZE="2">
      <p ALIGN="CENTER">Year ended December 31</font></b></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="CENTER">1999</font></b></td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="CENTER">1998</font></b></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
      <p>Investments at fair value as determined by quoted<br>
      &#160;&#160;market prices:</td>
    <td WIDTH="20%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
      <p style="margin-left: 25">&#160;&#160;Mutual funds</td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><b><font SIZE="2">
      <p style="margin-right: 20">$66,011</font></b></td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><font SIZE="2">
      <p style="margin-right: 20">$106,063</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">
      <p style="margin-left: 25">&#160;&#160;Textron
      Inc.&#45;&#45;common stock</td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><b><font SIZE="2">
      <p style="margin-right: 20">13,051</font></b></td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><font SIZE="2">
      <p style="margin-right: 20">255,888</font></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><b><font SIZE="2">
      <p style="margin-right: 20">$79,062</font></b></td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><font SIZE="2">
      <p style="margin-right: 20">$361,951</font></td>
  </tr>
</TABLE>
<b><font SIZE="2">
<p>5.&nbsp;&nbsp; Differences Between Financial Statements</p>
</font></b><font SIZE="2">
<p>The following is a reconciliation of benefits paid per the financial
statements to the Form 5500 for the year ended December 31, 1998:</p>
</font>
<table CELLSPACING="1" WIDTH="577">
  <tr>
    <td WIDTH="80%" VALIGN="TOP">
        <font SIZE="2">
        <p>Benefits paid to participants per the financial statements
      </font></td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">$463,104</font></b></td>
  </tr>
  <tr>
    <td WIDTH="80%" VALIGN="TOP"><font SIZE="2">
      <p>Less: Amounts allocated on Form 5500 to withdrawn participants at the<br>
      &#160;&#160;beginning of the year</font></td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20"><br>
      (40,836)</font></b></td>
  </tr>
  <tr>
    <td WIDTH="80%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="20%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">$422,268</font></b></td>
  </tr>
</TABLE>
<font SIZE="2">
<p>Amounts allocated to withdrawn participants are recorded on the Form 5500 for
benefit claims that have been processed and approved for payment prior to year
end but not yet paid.</p>
<b>
<p>6.&nbsp;&nbsp; Income Tax Status</p>
</b>
<p>The Plan has received a determination letter from the Internal Revenue
Service dated June 12, 1995, stating that the Plan is qualified under Section
401(a) of the Internal Revenue Code (IRC), and, therefore, the related trust is
exempt from taxation. Once qualified, the Plan is required to operate in
conformity with the IRC to maintain its qualification. The Plan Administrator
believes the Plan is being operated in compliance with the applicable
requirements of the IRC and, therefore, believes that the Plan is qualified and
the related trust is exempt.</p>
<b>
<p>7.&nbsp;&nbsp; Transactions with Parties&#45;in&#45;Interest</p>
</b>
<p>The Plan holds investments in the common stock of Textron, Inc., the ultimate
parent company of Elco, and mutual and money market funds that are administered
by affiliates of the Plan&#39;s trustee. Therefore, these transactions
qualify as party&#45;in&#45;interest transactions.</p>
<b>
</b>
</font><font FACE="Times" SIZE="4">
<p ALIGN="CENTER">Elco Thermoplastics, Inc. Profit Sharing Plan<br>
</p>
</font><font SIZE="4">
<p ALIGN="CENTER">Employer Identification Number 35&#45;1291803<br>
Plan Number 001</p>
</font><font FACE="Times" SIZE="4">
<p ALIGN="CENTER">Schedule H, Line 4i, Schedule of Assets Held for Investment
Purposes<br>
at End of Year</p>
</font><font FACE="Times" SIZE="2">
<p ALIGN="CENTER">December 31, 1999</p>
</font>
<table CELLSPACING="1" CELLPADDING="1" WIDTH="619">
  <tr>
    <td WIDTH="45%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="CENTER"><br>
      <br>
      Identity of Issue, Borrower,<br>
      Lessor, or Similar Party</font></b></p>
    </td>
    <td WIDTH="37%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="CENTER">Description of Investment, Including Maturity Date, Rate<br>
      of Interest, Collateral, Par or Maturity Value</font></b></p>
    </td>
    <td WIDTH="19%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="CENTER"><br>
      <br>
      Current<br>
      Value</font></b></p>
    </td>
  </tr>
  <tr>
    <td WIDTH="45%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="37%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="19%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="45%" VALIGN="TOP">
        <p>One Group Prime Money Market Fund*
    </td>
    <td WIDTH="37%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 50">732,015 units</font></td>
    <td WIDTH="19%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">$ 732,015</font></b></td>
  </tr>
  <tr>
    <td WIDTH="45%" VALIGN="TOP">
      <p>Putnam Voyager Fund*</td>
    <td WIDTH="37%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 50">1,209 shares</font></td>
    <td WIDTH="19%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">38,198</font></b></td>
  </tr>
  <tr>
    <td WIDTH="45%" VALIGN="TOP">
      <p>The George Putnam Fund of Boston*</td>
    <td WIDTH="37%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 50">92,592 shares</font></td>
    <td WIDTH="19%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">1,510,172</font></b></td>
  </tr>
  <tr>
    <td WIDTH="45%" VALIGN="TOP">
        <p>One Group Equity Index Fund*
    </td>
    <td WIDTH="37%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 50">47,851 shares</font></td>
    <td WIDTH="19%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">1,604,451</font></b></td>
  </tr>
  <tr>
    <td WIDTH="45%" VALIGN="TOP">
        <p>One Group Bond Fund*
    </td>
    <td WIDTH="37%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 50">648 shares</font></td>
    <td WIDTH="19%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">6,493</font></b></td>
  </tr>
  <tr>
    <td WIDTH="45%" VALIGN="TOP">
        <p>Textron Inc.*
    </td>
    <td WIDTH="37%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 50">19,398 shares</font></td>
    <td WIDTH="19%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">1,487,616</font></b></td>
  </tr>
  <tr>
    <td WIDTH="45%" VALIGN="TOP">
        <p>Participant notes receivable*
    </td>
    <td WIDTH="37%" VALIGN="TOP"><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 50">7.9% to 9.5%</font></td>
    <td WIDTH="19%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">19,738</font></b></td>
  </tr>
  <tr>
    <td WIDTH="45%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="37%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="19%" VALIGN="TOP"><b><font SIZE="2">
      <p ALIGN="RIGHT" style="margin-right: 20">$5,398,683</font></b></td>
  </tr>
</TABLE>
<p><font SIZE="2">
*Indicates party&#45;in&#45;interest to the Plan.</font></p>
<p>&nbsp;</p>

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<DOCUMENT>
<TYPE>EX-23
<SEQUENCE>2
<FILENAME>0002.htm
<TEXT>

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<head>
<TITLE>Exhibit 23</TITLE>
</head>

<body>

<font SIZE="4">
<p ALIGN="RIGHT">Exhibit 23</p>
</font>
<p>&nbsp;</p>
<font SIZE="4">
<p ALIGN="CENTER">Consent of Independent Auditors</p>
</font>
<p>&nbsp;</p>
<p ALIGN="JUSTIFY">We consent to the incorporation by reference in the
Registration Statement (Form S&#45;8 No.&#160;333&#45;07121)
pertaining to the Elco Thermoplastics, Inc. Profit Sharing Plan of our report
dated May 11, 2000, with respect to the financial statements and schedule of the
Elco Thermoplastics, Inc. Profit Sharing Plan included in this Annual Report
(Form 11&#45;K) for the year ended December 31, 1999.</p>
<p>&nbsp;</p>
<p>ERNST & YOUNG LLP<br>
Providence, Rhode Island</p>
<p>June 21, 2000</p>
<p>&nbsp;</p>

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