Yesterday (29 November 2012) Invensys announced that it has agreed to sell Invensys Rail to Siemens, subject to shareholder and regulatory approvals. The deal is expected to close sometime in the second quarter of calendar year 2013. Michael J. Caliel, president & chief executive officer comments on what he believes this means for Invensys Operations Management.
‘First and foremost, our standing priority is to continue to deliver best-in-class technology solutions and service to our customers. That means it’s business as usual for IOM: We will continue to support our customers; we will continue to work with them to discover new ways to add value; and we will continue to deliver solutions that enable them to realize success. I’ve assured our customers that they can expect the same great Invensys service and support they’ve come to value over the years. That’s what has brought us this far and that’s what will continue to drive our growth and success.
‘However, the selling of Invensys Rail also means that Invensys is focusing more on industrial software, systems and control equipment. In other words, Invensys Operations Management will play an even larger role in the success of Invensys as a whole, which is good news for our customers, partners and employees. Not only does it present exciting new opportunities and expectations, I believe it will enable us even more to define and deliver the future of automation. I say this for two reasons: First, some proceeds from the sale of Rail will be available to further our organic growth by investing in new technology and continuing to improve our development, delivery and execution. Second, we will also be able to consider further acquisitions that will strengthen our portfolio and market position. A good example of this was the recent acquisition of Spiral Software, which further extends our refinery optimisation solutions in support of our global installed base, giving us the most comprehensive portfolio in the refining and petrochemical industries.
‘As with all large-scale divestitures, there is bound to be some uncertainty and speculation. My message to our executive team and to all our employees is that the success of our businesses always depends on our ability to deliver. As you probably saw earlier this month, based on our first-half performance, we are on a path to achieving some great goals this fiscal year. The pending sale of Invensys Rail doesn’t change that path for IOM at all. In fact, I think it allows us to anticipate promising growth opportunities in the days ahead.’
