WRAPUP 1-U.S. manufacturers to slash spending in downturn

Newswire

* 3M, Textron to cut 2009 capital spending * Timken, Kennametal profit outlook below view * Oshkosh withdraws forecast, cites volatility * Textron shares fall 23 pct, sector down 2.7 pct By Scott Malone and Helen Chernikoff BOSTON/NEW YORK, Jan 29 (Reuters) - Top U.S. manufacturers, which have already shed tens of thousands of jobs in the face of the severe global recession, are also cutting back on capital spending as they struggle to preserve cash and economic conditions worsen. ...

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