AlliedSignal has agreed to acquire the airframe-fastener and lubricant businesses of Banner Aerospace for $345 million in stock. The Hardware and Aero-Pac units bring 500 employees and sales of $250 million, which Allied Signal says will help it create a $400 million aftermarket aerospace hardware distribution business. Banner will concentrate on its rotables and jet-engine businesses, says parent Fairchild.


Source: Flight International