Grace's Guide

British Industrial History

Grace's Guide is the leading source of historical information on industry and manufacturing in Britain. This web publication contains 143,024 pages of information and 229,410 images on early companies, their products and the people who designed and built them.

Invensys

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1999 After the merger of BTR Industries and Siebe, the new group was renamed Invensys[1]

From 1999 to 2004, it underwent a major restructuring programme to cut its costs as falling sales and large debts led to the danger of its going bankrupt.

2000 Acquired the Baan Corporation.

2002 Flowserve Corporation acquired the Flow Control Division

A major disposal programme, including of the Baan Corporation, combined with a £2.7bn debt restructuring in 2004 saved it from collapse.

Several changes of Chief Executive took place during this period

During 2011 and early 2012 the share price fell nearly 50%, in part due to delays costing £40 million in producing control and safety systems for eight Chinese nuclear reactors.

2012 The railway signalling and comms. businesses were sold to Siemens AG[2]

2013 The remaineder of Invensys (including automation and control of large process plant, temperature controls and some parts for domestic appliances) was taken over by the French multinational Schneider Electric for a total consideration of £3.4 billion. The takeover was completed on 17 January 2014.

See Also

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Sources of Information

  1. The Times, March 24, 1999
  2. The Times July 13, 2013