AlliedSignal to Sell Circuit Card Business

AlliedSignal Inc., a maker of aerospace and automotive parts, agreed to sell its circuit card assembly business to EFTC Corp., a provider of electronics manufacturing services, as it focuses on electrical equipment used in airplanes. Terms were not disclosed. The AlliedSignal circuit card business, now based in Lawrence, Kan., will be moved to nearby Ottawa, Kan. EFTC said it will offer jobs to all of the business’ 130 employees. Morristown, N.J.-based AlliedSignal, whose 1997 revenue totaled $14.15 billion, has been focusing its Electronics & Avionics Systems unit on electrical equipment such as radar and radios for airplanes. For EFTC, based in Denver, the three-step transaction is expected to boost annual revenue by $20 million and expand its relationship with its biggest customer, AlliedSignal. AlliedSignal shares fell 63 cents to close at $36.06 on the NYSE; EFTC stock rose 3 cents to $2.88 on Nasdaq.