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Invensys Announces Future Strategies

January 23, 2002
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LONDON, England — Invensys plc announced its plan to restructure the company in order to boost earnings, reduce debt, and improve cash flow.

The company will establish two core divisions, Production Management and Energy Management. The Production Management division will be comprised of Foxboro, Wonderware, Triconex, APV, Eurotherm, and Baan, and will provide production technologies and services to the sectors of oil, gas, and chemicals; power generation; and discrete and hybrid manufacturing.

The Energy Management division will combine Energy Solutions, Metering Systems, Appliance and Climate Controls, and Power Systems. This division will address markets connected with power and energy infrastructure, as well as buildings for industrial, commercial, and residential use.

Invensys has also created a Development Division. This division will consist of Rail Systems, Wind Power (Hansen), and Power Components.

The company plans to sell its Industrial Components and Systems businesses. These businesses consist of Rexnord, Flow Control, Fasco Motors, Sensor Systems, Drive Systems, BAW Automated Systems, Energy Storage, and CompAir. The sale of this division, according to Invensys, will help to drive down debt.

One of the final major changes is the creation of key performance teams that will focus on customer relationships, service and project delivery, and supply chain efficiency.

For more on the changes taking place at Invensys, visit www.invensys.com (website).

Publication date: 02/25/2002

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