The Foxboro Company, Foxboro, Mass., has signed 20-year joint venture agreements with The Shanghai Instrumentation Industry and the Guang Dong Instrument Factory, both located in the People's Republic of China.
Under the agreement with The Shanghai Instrumentation Industry, Shanghai, that joint venture company will manufacture Foxboro electronic instrumentation and systems. Under the agreement with the Guang Dong Instrument Factory, Zhao Qin, Guang Dong, that joint venture company will manufacture the Foxboro line of pneumatic instrumentation.
A sales and service organization will be established and will be wholly owned by the Chinese. This organization will be responsible for the sales and service of Foxboro products in the People's Republic of China, whether those products are manufactured by the joint venture companies or by other Foxboro facilities worldwide.