a hostile takeover threat by Curtiss-Wright Corporation. To avoid this, Garrett Corporation merged with Signal Oil and Gas Company in 1964. The combined company adopted the name The Signal Companies in 1968 before merging with Allied Corporation to become Allied-Signal Inc. The oil crisis of the 1970s made federal regulators put pressure on car manufacturers to reduce exhaust emissions. By 1977 manufacturers introduced turbocharged cars in the US and Europe like the second generation Buick Regal and LeSabre sports coupe as well as European cars by Volvo, Saab, Peugeot, Renault and Mercedes. In 1978 there were only eight turbocharged car models and seven used Garrett turbochargers. Garrett formed the automotive group in 1980 and by the mid-1980s there were over 100 turbocharged models. Turbochargers became commonplace by the 1990s. In 1994, Allied-Signal acquired the Lycoming Turbine Engine Division of Textron followed by the sale of the Garrett Aviation Division to General Electric three years later. In 1999, it merged with Honeywell International Inc. and adopted Honeywell as the company name. In 2011, Honeywell sold its automotive Consumer Products Group to Rank Group, a New Zealand private investment firm, for $950 million. This included brands like Fram Filters, Prestone antifreeze and Autolite spark plugs. In the 2000s Garrett's turbochargers were installed in the engines of the Chevrolet Sonic, Mercedes S 350, Volkswagen Polo, BMW X6 ActiveHybrid, Ford F-350, Volkswagen Golf and Jaguar XF among others. In 2010 the company developed 15 new technologies for 100 new engines, including the world's first use of ball bearing technology in a mainstream light vehicle diesel engine. Garrett has developed the world's smallest turbo for the Tata Nano as well as for the 100-liter engine of the Caterpillar mining truck. On October 1, 2018, Garrett Motion Inc. became an independent publicly-traded company through a pro rata distribution of Garrett shares to Honeywell's stockholders. Each Honeywell stockholder of record received one share of Garrett common stock for every 10 shares of Honeywell common stock held on the record date. Approximately 74 million shares of Garrett common stock were distributed on October 1, 2018, to Honeywell stockholders. On September 21, 2020, Garrett Motion announced its intention to file for Chapter 11 bankruptcy and be acquired by KPS Capital Partners. In April 2021, Garrett emerged from Chapter 11, completing the restructuring process and implementing the restructuring plan that was confirmed by the U.S. Bankruptcy Court for the Southern