Textron deal completed

DETROIT - Collins & Aikman Corp. completed its revised $1.24 billion buyout of Textron Inc.'s automotive trim business in a bid to become a leading global supplier of automotive cockpits and acoustics.

The Thursday, Dec. 20, announcement followed Collins & Aikman's sale of $500 million in bonds to finance the deal.

This is the Troy, Mich., company's third acquisition this year.

Collins & Aikman's global work force nearly will double to 25,000, and it will add 30 manufacturing plants for its operations in North America, Europe and Brazil.

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