AlliedSignal Aerospace Acquires The Canaan Group Management Consulting Firm.TORRANCE, Calif.--(BUSINESS WIRE)--Aug. 17, 1998--AlliedSignal Inc. Monday announced that it has acquired The Canaan Group Ltd., a leading aerospace management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects firm. Terms were not disclosed. The Canaan Group will maintain its operational independence. Since its founding in 1986, The Canaan Group has established itself as a leading consultant in strategy development, market analysis and operations management Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. for airlines, aerospace original equipment manufacturers and service providers. "Consulting services is a fast-growing, attractive component of the aerospace services market," said Joe Leonard For the baseball player, see . Joe Leonard (born August 4, 1932, San Diego, California), is a retired American motorcycle racer and racecar driver. Leonard won the first AMA Grand National Championship Series in 1954 and won it again in 1956 and 1957. , president of AlliedSignal Marketing, Sales and Services. "Participating in this growth opportunity fits well with AlliedSignal's strategic interest in expanding its services offering. And, we are proud to have a premier firm such as The Canaan Group represent us in the aerospace consulting market." The Canaan Group's professional staff combines a broad level of experience and training in aerospace technical issues with an in depth knowledge of the underlying market forces shaping the industry. The firm is recognized as an authority on the commercial aviation aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. , with a detailed understanding of the aviation industry's prospects and opportunities. "We are excited by the possibilities this new relationship with AlliedSignal offers us," said George H. Ebbs Jr., The Canaan Group president. "AlliedSignal has proven itself to be an innovative company with a deep understanding of operational excellence and productivity practices that will enrich The Canaan Group's ability to serve its clients in these important areas." AlliedSignal is an advanced technology and manufacturing company serving customers worldwide with aerospace and automotive products, chemicals, fibers, plastics and advanced materials Advanced Materials is a leading peer-reviewed materials science journal published every two weeks. Advanced Materials includes Communications, Reviews, and Feature Articles from the cutting edge of materials science, including topics in chemistry, physics, . Additional information on the company is available on the World Wide Web at http://www.alliedsignal.com/. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as defined in Section 21E of the Security Exchange Act of 1934, including statements about future business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets , financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts.
CONTACT: AlliedSignal Inc., Torrance
Dennis Signorovitch, 310/512-4049
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