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AlliedSignal Sells Brake Line: The Morristown, N.J.-based company sold its automobile anti-lock brake business for $1.5 billion in cash to Bosch Group, a German conglomerate that pioneered
the technology two decades ago. The unit, which makes braking systems for cars and trucks at 24 plants worldwide, accounted for $2.1 billion, or about a seventh, of AlliedSignal Inc.’s total
annual sales. The company, which also makes electronics systems and aircraft engines, put its anti-lock brake business on the auction block in October, after conceding that the unit had dim
prospects of increasing its skimpy 6% market share.
