Textron Inc. announced that its corporate headquarters will remain in Rhode Island while the offices of its largest subsidiary, Avco Corp., will be moved from Greenwich, Conn., to Providence.
There had been considerable speculation that Textron, a $6-billion aerospace, commercial products and financial-services corporation, would decide to relocate to the affluent Greenwich area since it had acquired Avco.
Beverly F. Dolan, Textron’s president and chief executive, said the decision was “close.”
Dolan said there were no plans to build a corporate headquarters in the city. He said the corporation would continue to lease office space in downtown Providence and planned to sell Avco’s Greenwich headquarters.