DETAILS ON HONEYWELL AND SOVIET JOINT VENTURE

Honeywell Inc has firmed up details of its planned joint venture for control systems for Soviet fertilizer plants announced a few months back: the new company will be 49%-owned by Honeywell’s Austrian subsidiary, 51% by the Soviet Ministry of Mineral Fertilizer Production, and the company will initially invest $1m in the initial marketing and design phase, and once it is up and running, purchases from Honeywell could reach $20m in the first year; export to third countries is also envisaged for the new factory.

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