Going Down: Invensys
Sunday 28 November 1999
The company said it would reach its goal for cost savings of pounds 300m a year by 2002, nine months ahead of schedule. It also plans to spend "at least a couple billion pounds" on acquisitions to compete better with rivals such as ABB and Siemens.
Invensys's transformation is being handled in a "very robust way", said Harry Philips, an analyst at WestLB Panmure.
The shares fell 15 per cent last week, but have risen 27 per cent this year.
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