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Technology / AI and automation

ALLIED-SIGNAL FINALLY FINDS A BUYER FOR AMPEX: LANESBOROUGH PAYS $479m

The Ampex Corp unit of Allied-Signal Inc has been on the block since shortly after Allied merged with Signal, and a buyer has finally been found for the diversified electronics business. The Redwood, California company is going to privately held New York chemical products manufacturer Lanesborough Corp for $479m. Ampex makes a variety of disk and tape products, displays, add-in memory and processor boards, and had 1986 sales of more than $500m.

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CBR Staff Writer

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