Invensys to divest Baan, most Energy Management units

To focus more closely on automation and controls and pay off existing debt, Invensys plc announced April 15 plans to divest Baan and most of its Energy Management division units, which represent about $4.58 billion in annual sales. The businesses slated for sale during the next 18-24 months include Baan, product-based Appliance Controls, Climate Controls, Metering Systems, ...

05/01/2003


To focus more closely on automation and controls and pay off existing debt, Invensys plc announced April 15 plans to divest Baan and most of its Energy Management division units, which represent about $4.58 billion in annual sales. The businesses slated for sale during the next 18-24 months include Baan, product-based Appliance Controls, Climate Controls, Metering Systems, APV Baker, Powerware, Lambda, Teccor and Hansen Transmissions. They will be managed in an expanded Development Division until they are sold.

Invensys plans to retain its Production Management division companies, including Foxboro, Triconex, Wonderware, Eurotherm, APV Solutions & Services and SimSci-Esscor. IMServ and certain data management technologies in the Energy Management division also will be added to Production Management, while Invensys Rail Systems will be kept and operated separately. Invensys' new ArchestrA industrial software framework will be deployed throughout its remaining units.

"Our strategy remains the same. We're not just playing to compete. We playing to win," says Sasan Goodarzi, president of Invensys Manufacturing and Process Solutions. Mr. Goodarzi told Control Engineering on April 22 that its latest divestiture will allow it to retire debt, improve credit ratings, lower its cost of borrowing, and invest more in current businesses, with internal development and strategic acquisitions.

Mr. Goodarzi adds that he and Invensys' other leaders will remain, including Rick Haythornthwaite, Invensys' ceo, Leo Quinn, Invensys Production Management's coo, and Mike Bradley, Invensys Wonderware/ArchestrA's president. Invensys will provide more details about its plans when it releases full-year results on May 29.





No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Integrated mobility; Artificial intelligence; Predictive motion control; Sensors and control system inputs; Asset Management; Cybersecurity
Big Data and IIoT value; Monitoring Big Data; Robotics safety standards and programming; Learning about PID
Motor specification guidelines; Understanding multivariable control; Improving a safety instrumented system; 2017 Engineers' Choice Award Winners
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.
Motion control advances and solutions can help with machine control, automated control on assembly lines, integration of robotics and automation, and machine safety.
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Mobility as the means to offshore innovation; Preventing another Deepwater Horizon; ROVs as subsea robots; SCADA and the radio spectrum
Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Big Data and bigger solutions; Tablet technologies; SCADA developments
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
click me