AlliedSignal
- Ticker:
- HON
- Share price:
- $195.65 (mkt close, Apr. 10, 2024)
- Market cap:
- $129.20 bil.
- Annual revenue:
- $36.66 bil.
- Earnings per share (prev. year):
- $9.17
- Sector:
- Manufacturing
- Industry:
- Conglomerates
- CEO:
- Vimal Kapur
- Headquarters:
- Morristown
AlliedSignal, former American corporation that became a leading manufacturer of aerospace systems and components before merging with Honeywell International, Inc., in 1999.
The corporation was formed in 1920 in the consolidation of several chemical manufacturers; the Barrett Company (founded 1903), supplying coal-tar chemicals and roofing; General Chemical Company (founded 1899), specializing in industrial acids; National Aniline & Chemical Company (founded 1917), producing dyes; Semet-Solvay Company (founded 1894), manufacturing coke and its by-products; and Solvay Process Company (founded 1881), producing alkalies and nitrogen materials. In the 1940s these companies were transformed into “divisions” of Allied Chemical. There were further reorganizations and acquisitions of companies and plants during the 1950s, ’60s, and ’70s, and Allied became a conglomerate. Taking the name Allied Corporation in 1981, the firm acquired the Bendix Corporation, a manufacturer of automotive and aerospace equipment, in 1983. In 1985 Allied merged with the Signal Companies, a major aerospace and engineering firm, to form Allied-Signal Inc., in a transaction representing the largest industrial merger up to that time.
In 1986 Allied-Signal spun off about 35 of its diverse subsidiary operations into a new and separate company so that the parent corporation, renamed AlliedSignal in 1993, could concentrate on its growing aerospace electronics and automotive operations. AlliedSignal acquired Honeywell’s stock in 1999 but dropped the AlliedSignal name in favour of the Honeywell name.