AlliedSignal Unit to Buy Echlin Brake Firm
Times Staff and Wire Reports
AlliedSignal Automotive and its truck partner, Germany’s Knorr-Bremse, said they have agreed to buy the heavy-truck air brake systems business of Echlin Inc. under undisclosed terms. AlliedSignal Automotive, a unit of Morristown, N.J.-based AlliedSignal Inc., said that along with Echlin’s truck brake business in the U.S. and Europe, it will also acquire Echlin’s U.S.-based commercial vehicle friction materials and aftermarket brake shoe relining operations. The businesses to be acquired employ about 2,300 people and have sales of about $320 million. AlliedSignal and Knorr-Bremse operate truck air brake joint ventures in North America, South America and Europe; their combined 1996 sales were about $800 million.
