Allis-Chalmers has agreed to sell its air...

Allis-Chalmers has agreed to sell its air quality control business for $245 million in cash to Snyder General Corp., a Texas-based manufacturer of heating and air conditioning equipment . . . Rolling Meadows, Ill.-based Staley Continental Inc. said its board has delayed action on a $1.33-billion cash tender offer from Tate & Lyle PLC, a major British sugar refiner . . . Government participants in Airbus Industrie approved guidelines to overhaul management of the European aircraft consortium and make it more accountable financially.