As part of a big re-organisation, Invensys is to concentrate on Production Management and Energy Management while its Industrial Components division will be sold off.
A statement from the company said that its future revenues would have to be driven more by the provision of ‘solutions and services’ than by the manufacture of products that are increasingly ‘commoditised’.
The Production Management Division will comprise Foxboro, Wonderware, Triconex, APV, Eurotherm and Baan. Together these companies have total sales of £1.6bn.
The Energy Management Division will combine Energy Solutions, Metering Systems, Appliance and Climate Controls and Power Systems, with total sales of £2.4bn.
The Industrial Components and Systems Division (with a total sales of £2.3bn) consists of Rexnord, Flow Control, Fasco Motors, Sensor Systems, Drive Systems, BAE Automated Systems, Energy Storage and CompAir.
These companies will be managed separately through to disposal to ensure that shareholder value is protected in the process.
The new Group structure will take effect from May 1 2002.
In the year to 30 September 2001, the Group’s operating margins fell from 13% to 8%.