AlliedSignal Acquires Leading Electronics Packaging Business.MORRIS TOWNSHIP There are several places named Morris Township in the United States:
See: New York Stock Exchange :ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) announced today that it has acquired the business of Web Technologies, Inc. of Oakville, Connecticut, a privately-held specialty plastic films company that serves the electronics packaging market. Terms of the transaction were not announced. Web Technologies' manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. in Oakville, Connecticut, will become part of AlliedSignal's Specialty Films business, a leading manufacturer and marketer of high performance films for packaging and industrial markets. These products are used in pharmaceutical, medical, electronic, food and specialty packaging applications. "The acquisition of the business of Web Technologies is consistent with our growth strategy and plan to become a leader in high-value specialty film markets and applications," said Kevin Quinn Kevin Quinn (born 1965 in Northampton) is a British Neo-Nazi and the current leader of the November 9th Society. Quinn initially served as Director of Security and personal bodyguard to Terry Flynn in the movement, until he became leader (taking the title 'National , vice president and general manager of AlliedSignal Specialty Films. "We were particularly attracted by Web Technologies' leading presence in the electronics packaging market. It fits nicely with the acquisition of Gomar National Industries we made in 1997." John Jaran, the former president and owner of Web Technologies, said the sale "enables AlliedSignal to build upon Web's strong product technology platforms and excellent customer relationships." Jaran will work with AlliedSignal to ensure a smooth transition of ownership. AlliedSignal Specialty Films, with facilities in Pottsville, Pennsylvania, and Elizabeth, Linden and Cranbury, New Jersey, is a leading producer of performance films, including ACLAR(R) fluoropolymer A fluoropolymer is a polymer that contains atoms of fluorine. It is characterized by a high resistance to solvents, acids, and bases. Fluoropolymers were discovered serendipitously in 1938 by Dr. Roy J. Plunkett. , ACLAM ACLAM American College of Laboratory Animal Medicine (R) laminates, CAPRAN(R) nylon, CAPRAN(R) EMBLEM(TM) biaxially oriented nylon and OXYSHIELD(R) co-extruded barrier films. Specialty Films is a part of AlliedSignal Polymers, one of AlliedSignal's strategic business units. Polymers manufactures and markets fibers, plastics, film and chemicals for hundreds of industrial and consumer applications, such as sporting equipment, luggage, carpet, automotive parts, packaging and armor. Among its brands are Ansor nylon carpet fiber, Hydrofil(R) nylon textile fiber, Capron(R) nylon plastic, Aclar(R) fluoropolymer and Spectra(R), the world's strongest and lightest manmade fiber. AlliedSignal Polymers' 1997 sales exceeded $2 billion. Headquartered in Morris Township, New Jersey
The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. . More information about the company can be found on its web site at www.alliedsignal.com. -0- This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business. CONTACT: Will Rea Patricia Menagh (717) 621-6063 (973) 455-2280 (804) 520-3189 |
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