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ALLIEDSIGNAL WILL ACQUIRE GILARDINI'S SEAT BELT BUSINESS

 SOUTHFIELD, Mich., Jan. 17 /PRNewswire/ -- Expanding its worldwide capabilities in vehicle safety restraint systems, AlliedSignal Inc. (NYSE: ALD) has signed an agreement to acquire the seat belt business of Gilardini, an Italian automotive supplier that is majority-owned by Fiat Group.
 The agreement is expected to be final on Jan. 31. Terms of the acquisition were not announced.
 The seat belt business to be acquired by AlliedSignal has annual sales of about $34 million.
 The acquisition will strengthen AlliedSignal's capabilities in the fast-growing vehicle safety restraints business by expanding its manufacturing capabilities and market presence in Europe, according to Don DeFosset, president of AlliedSignal Safety Restraint Systems. AlliedSignal also has signed agreements to supply Fiat Auto S.p.A. with air bags, seat belts and pretensioners -- mechanical devices that enhance the operation of a seat belt by minimizing the occupant's forward movement in a collision.
 "This acquisition gives us a manufacturing base in Italy to serve Fiat as it pursues its global expansion plans, as well as to meet other auto manufacturers' growing needs for world-class safety restraint systems," DeFosset noted.
 DeFosset added that AlliedSignal is now positioned to capitalize on growing customer demand for pretensioners, which are standard on many European vehicles and are gaining interest among North American vehicle manufacturers.
 A Gilardini facility in Moncalieri, Italy, will become the administrative and technical center for AlliedSignal Safety Restraint Systems in Italy. AlliedSignal Safety Restraint Systems currently operates other seat belt facilities, including a new pretensioner plant and three sales offices in Europe.
 AlliedSignal announced separately today that it has entered into a three-way venture with Gilardini and Sequa's Atlantic Research Corp. (ARC) to design, produce and sell hybrid inflators for air bag modules to be assembled by AlliedSignal in Europe. The venture, based in Colleferro, Italy, initially will supply Fiat in Italy and Opel in Germany. Hybrid inflators provide a cost-effective method of inflating air bags, utilizing compressed argon gas and a proprietary solid propellant from Atlantic Research.
 AlliedSignal Safety Restraint Systems is part of AlliedSignal Automotive, a $4.5-billion automotive supplier based in Southfield, Mich. AlliedSignal Automotive is a unit of AlliedSignal Inc., a $12-billion advanced manufacturing company serving customers worldwide with aerospace and automotive products, chemicals, fibers, plastics and advanced materials.
 Gilardini is the parent company of Fiat's Industrial Components Sector. Its operations include three main areas: Automotive Components, Lubricants, and Defense and Space. Its current annual sales are 3,000 billion lire (U.S. $2 billion), with a total workforce of 10,200. The group has 60 manufacturing facilities in Italy, France, Germany, United Kingdom, Portugal, Spain, Switzerland, Poland, Turkey, Brazil, Argentina and French Guyana.
 -0- 1/17/94
 /CONTACT: Jim Fisher of AlliedSignal Automotive, 313-827-5454/
 (ALD FIA)


CO: AlliedSignal Inc.; Gilardini; Fiat Group ST: Michigan IN: AUT SU: TNM

ML -- DE007 -- 2403 01/17/94 09:03 EST
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Publication:PR Newswire
Date:Jan 17, 1994
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