Minneapolis-based Honeywell Inc spin-out Alliant Techsystems Inc says its board has now authorised management to pursue negotiations to sell its Metrum Information Storage subsidiary, which makes helical scan tape storage systems, mainly for military applications, in Littleton, Colorado: the sale is expected to be completed by the end of the year and would result in cash and tax benefits of betweeen $25m and $30m, and proceeds will be used to repay outstanding debt; the sale will not include land and buildings, which will be sold separately; Alliant says that offers for Metrum were lower than hoped because of losses incurred by Metrum since the decision to divest the operation announced in March, the business did $87m last year.
