Sells APV to SPX Corporation

Invensys PLC
31 October 2007



31 October 2007


Invensys sells APV to SPX Corporation for £250 million


Invensys plc announces that it has entered into an agreement to sell APV to SPX
Corporation for a cash consideration of £250 million, subject to customary
regulatory approvals. The disposal is being made on a "debt free/cash free"
basis and completion is expected to take place by the end of December 2007.


APV is a global supplier of process engineering solutions for the food,
beverage, pharmaceutical and healthcare industries.  During the year ended 31
March 2007, APV produced operating profit before exceptional items of £16
million on revenue of £421 million and at that date had gross assets of £284
million.  APV will be treated as a discontinued operation in the second quarter
results to 30 September 2007 which are due to be published on 8 November 2007
and its net assets of £78 million will be included in the 30 September 2007
balance sheet as "Assets held for sale".


Following discussions with the Trustee of its main UK pension fund, the Invensys
Pension Scheme ("the Scheme"), Invensys plc has agreed to contribute £70 million
of the proceeds to the Scheme at completion.  The effect of this additional
payment upon the payment schedule announced last year will be evaluated as part
of the actuarial review of the Scheme as at 31 March 2008.  The US pension
scheme will receive 4% of the proceeds and the balance will be used to pay down
corporate debt.


Ulf Henriksson, Chief Executive of Invensys plc, commented:


"I am pleased that APV will be owned by SPX Corporation as it is a good
strategic fit with their existing businesses.  This is a good deal for both
Invensys and SPX and we wish APV every success in the future.



"This transaction enables us to focus management attention on our other
operations as we seek to become a sustainable, high performance and cohesive
company."



                                      Ends


Contact:


Invensys plc              Steve Devany                 tel: +44 (0) 20 7821 3758
                          Kate Elliott                 tel: +44 (0) 20 7821 2121

Financial Dynamics        Andrew Lorenz
                          Richard Mountain             tel: +44 (0) 20 7269 7121




Note to editors



The sale of APV France, which represents around 7% of APV's revenue, has not
been committed at this stage and a decision will be made in that respect after
the completion of the information / consultation process as provided by the
relevant internal French law.


                      This information is provided by RNS
            The company news service from the London Stock Exchange