The previously announced sale of Allied-Signal’s Ocean...
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The previously announced sale of Allied-Signal’s Ocean Defense Corp. unit in Sylmar to Thomson-CSF of France has been scrapped. The two companies did not specify the reasons, except to say the sale was subject to conditions “which were not mutually satisfied.” Ocean Defense Corp., which Allied-Signal put up for sale earlier this year, makes anti-submarine equipment. The unit has annual sales of about $100 million.
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