AlliedSignal Sells Performance Chemicals Plant in Kansas.

MORRIS TOWNSHIP, N.J.--(BUSINESS WIRE)--February 15, 1996-- AlliedSignal Inc. today announced the sale of its Jayhawk Performance Chemicals Plant, in Galena, Kansas, to the Allco Chemical Corporation, a subsidiary of the Inspec Group plc, a British specialty chemicals firm, for $28.7 million (U.S.).

The 27-acre plant, with approximately 140 employees, manufactures chemicals used in metal extractants, sunscreen and agricultural intermediates.

Inspec said the acquisition "significantly enhances the range of Inspec's specialty chemical products and technologies, while creating further critical mass for the Group in the North American and South American markets."

Though AlliedSignal did not have Jayhawk on the market when approached by Inspec, AlliedSignal Performance Chemicals Vice President and General Manager Lesa M. Chittenden noted that Jayhawk is a better strategic fit with Inspec.

"Upon review of Jayhawk's long-term prospects and AlliedSignal's strategic direction, we concluded that the plant's considerable potential might be best realized through its sale to Inspec," she said.

AlliedSignal Inc. is an advanced technology and manufacturing company, serving customers worldwide with aerospace and automotive products, chemicals, fibers, plastics and advanced materials. Its Performance Chemicals business, part of AlliedSignal's Engineered Materials sector, also operates plants in Claymont, Delaware and Hopewell, Virginia. Neither is affected by the sale.

Inspec, which trades on the London Stock Exchange, manufactures a variety of specialty chemicals, used as coating intermediates, synthetic lubricants, specialty acids and specialty foams.

CONTACT: AlliedSignal, Inc.

[phone]