Textron is not having second thoughts about its recent purchase of Omniquip, according to chairman and chief executive Lewis Campbell, who said reports that it was considering a sale of the material handling manufacturer were taken out of context by analysts.

Campbell said his comments to an analyst conference last month only reflected Textron's general practice of evaluating all acquisitions on an ongoing basis.

"We have the same confidence in Omniquip's growth potential and its contribution to Textron as when we first purchased it," Campbell wrote in a letter to Omniquip officials. "Our integration plan is on track, and I am confident that together we will fully achieve the growth objectives of Omniquip Textron."

Textron acquired Omniquip, including its Sky Trak rough-terrain forklift and Snorkel aerial work platform lines, for $477 million in September 1999. Since then, some Wall Street analysts have questioned the soundness of the investment.