Invensys' aerospace arm sold for pounds 109m
Friday 17 December 1999
Smiths is paying pounds 109m for the US-based business, which specialises in electrical and environmental control systems for aircraft. The sale of the division brings disposal proceeds to pounds 960m and an Invensys spokeswoman said it remained confident of completing the programme by the end of March next year - the target date set by the group's chief executive Allen Yurko. The acquisition will broaden Smiths' product range and strengthen its position in the market for electrical power management technology.
The Invensys aereospace division employs 850 people at four US locations and made operating profits last year of $19m on sales of $120m. Its best known trading name is Barber-Colman Aerospace which makes complete environmental control systems.
This is the third biggest disposal by Invensys since its formation in February following the merger of Siebe and BTR.
- 1 Venezuela Expo Tattoo 2015: Extreme body art from 'Vampire Woman' to 109mm earlobes
- 2 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 3 Ball pool for adults opens in London
- 4 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
- 5 Canadian woman suing police who locked her in van with sex offender who then raped her
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Putin opponent reveals Russian President's daughter's secret identity
Ball pool for adults opens in London
Gay couple buy JebBushForPresident.com web domain, and refuse to sell
Canadian woman suing police who locked her in van with sex offender who then raped her
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
Stephen Fry explains what he would say if he was 'confronted by God'
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...