Invensys Power Systems division wins £30m BT contract

Invensys, the engineering company which shocked the City with a profits warning earlier this month, will today try to reassure investors that at least one of the company's division is performing well, with news of a contract worth £30m.

Invensys, the engineering company which shocked the City with a profits warning earlier this month, will today try to reassure investors that at least one of the company's division is performing well, with news of a contract worth £30m.

The company, which has seen billions knocked off its market value since the profits warning, will announce that a unit of its Power Systems division has won a contract from BT.

Invensys badly needs to restore investor confidence after admitting on 6 September that many of its markets, including air-conditioning controls for new houses, were weaker than expected. The company yesterday also announced the first contract won by Baan since Invensys acquired the troubled Dutch software provider earlier this year. Baan will provide the Defence Repair Agency, part of the Ministry of Defence, with resource planning, supply chain management and e-commerce software for 3,000 users.

The BT deal, for which 22 companies tendered a bid, is to supply and install equipment that ensures a continuous power supply for its network.

This includes rectifiers and battery back-up to the network, as well as a remote monitoring system. The Invensys equipment will protect the communication network against power failures.