Moving to strengthen its grip on the market for manufacturing automation equipment, Honeywell Inc. on Tuesday announced that it has teamed up with a small Orange County company to develop and sell state-of-the-art computer back-up systems for the factory floor.
Although the initial agreement with Triconex Corp. in Irvine is quite modest, it could lead to a substantial investment by Honeywell in the young company that is funded by venture capital. Triconex and Honeywell officials said additional details of the arrangement would be disclosed within 60 days.
Two-year-old Triconex makes industrial controls that monitor automated-manufacturing equipment to ensure reliable, fault-free performance. Such systems, which typically can spot problems and then substitute another automated route while the problem is being repaired, are gaining in popularity as the number of automated factories increases.
Triconex, which introduced its first system early in 1985, specifically targeted its products to work with automation equipment made by Honeywell, an acknowledged leader in the emerging field, according to Jon Wimer, Triconex president.