Allied Chemical Corporation

Allied Chemical Corporation

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Allied Chemical Corporation
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Beautiful engraved Stock Certificate from Allied Chemical Corporation issued in the 1960's for shares of common Stock. This certificate has an ornate border with a vignette of three allegorical figures holding chemcal bottles and tools. Allied Chemical & Dye Corporation was formed in 1920 as an amalgamation of five American chemical companies established in the 1800s. Allied developed an important synthetic fibers business, diversified into oil and gas exploration and production through the purchase of Union Texas Petroleum in 1962, and bolstered its mainstay chemical operations. Signal expanded through internal growth and numerous mergers and acquisitions, including the 1964 acquisition of The Garrett Corporation, an aerospace manufacturer. While a number of acquisitions and divestitures were made between 1979 and 1983, the first major move was the 1983 acquisition of The Bendix Corporation. The acquisition augmented Allied's automotive products businesses and provided a significant entree into the aerospace industry. In 1985, Allied merged with Signal, adding critical mass to its aerospace, automotive and engineered materials businesses. In addition, Allied sold a 50% interest in Union Texas Petroleum and began the divestiture of 35 non-strategic businesses through the formation and spinoff, completed in 1986, of The Henley Group, Inc. The Union Texas sale and related transactions brought AlliedSignal $1.4 billion in cash and securities. In 1992, the Company sold its remaining interest in Union Texas Petroleum for $940 million in net proceeds. In mid-1991, with a new CEO, Larry Bossidy, and new leadership in many key businesses, Allied Signal began a comprehensive program of transformation. Bold actions were taken to improve cash flow and operating margins, to increase productivity, and to position the company as a global competitive force for the years ahead.


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  • alchemcorsto
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