AlliedSignal to Realign Aerospace Sector

AlliedSignal Inc. said it plans to realign its aerospace business in a bid to save $30 million to $50 million a year, but it did not provide details. “There may be some job reductions across the aerospace businesses in areas such as administration,” spokesman Tom Crane said. “It’s too soon to see to what degree.” The Morris Township, N.J.-based manufacturer of aircraft and automobile equipment, chemicals and plastics employs 38,000 people, including 2,000 at its aerospace headquarters in Torrance. AlliedSignal also has aerospace operations in six other states and Canada. The company’s cost-cutting comes as analysts expect the commercial aircraft market to slow in the next year amid a drop in demand. Details of AlliedSignal’s realignment will be unveiled in April. AlliedSignal shares rose 88 cents to close at $44.69 on the NYSE.