TEXACO <TX>, HONEYWELL <HON> IN JOINT VENTURE
Texaco Inc and Honeywell Inc
said they formed a joint venture to provide advanced industrial
plant control systems and services.
    The companies did not say how much money they will invest
in the Phoenix-based venture, which has been named Icotron Co.
    Louis Garbrecht Jr, general manager of Texaco's engineering
and safety department, was named chairman of the venture, the
companies said. John Hoag, a Honeywell executive, will oversee
the day-to-day operations of the venture as president, the
partners said.
   
 Reuter
