SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) - October 23, 1995
THE HARTFORD STEAM BOILER INSPECTION AND INSURANCE COMPANY
(Exact name of registrant as specified in its charter)
Connecticut 0-13300 06-0384680
(State or other (Commission (IRS Employer
jurisdiction of incorporation) File Number) Identification No.)
One State Street, Hartford, Connecticut 06102
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code - (203-722-1866)
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Item 5. Other Events
On October 23, 1995, the Registrant, together with The Dow Chemical Company
announced plans for two of their wholly-owned subsidiaries to form a new
company, Dow Radian LLC (Limited Liability Company), which will provide
environmental, information technology, and strategic chemical management
services to industries and government worldwide.
The new company, consisting of assets contributed by Dow Environmental Inc.
(DEI), a subsidiary of The Dow Chemical Company, and Radian Corporation,
a subsidiary of the Registrant, will be headquartered in Austin, Texas.
Radian Corporation is an international environmental, engineering, and
technical services firm based in Austin. It employs 2,100 people. DEI
specializes in remediation and the strategic chemical management business.
Headquartered in Rockville, Maryland, it employs 490 people.
The new company will integrate the engineering and environmental strengths
of Radian and DEI, and DEI's access to the chemical industry process
technology of The Dow Chemical Company to provide a wide range of process
and environmental systems and services to global customers. In 1996 the
new company is expected to have revenues of nearly $400 million.
According to the terms of the agreement in principle, Dow Radian will be
40 percent owned by the Registrant and 60 percent owned by The Dow
Chemical Company, via the wholly-owned subsidiaries of each company.
Plans call for the transaction to be completed at or near year end,
subject to the approval of the Board of Directors of the Registrant
and The Dow Chemical Company. Donald M. Carlton, President and Chief
Executive Officer of Radian, will have the same positions as head of
Dow Radian.
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
THE HARTFORD STEAM BOILER
INSPECTION AND INSURANCE COMPANY
Dated: October 25, 1995 __________________________
Robert C. Walker
Senior Vice President and General
Counsel
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