Turkington Industries agrees to purchase APV Baker’s Goldsboro, NC operation

Turkington Industries agrees to purchase APV Baker’s Goldsboro, NC operation

Invensys has agreed to sell APV Baker Goldsboro, its North Carolina bread and bun equipment operation, to Turkington Industries, for a total consideration in excess of $10 million. In the financial year 2003/04, the Goldsboro business recorded sales of $34 million.

A binding agreement has been signed and it is expected that completion will take place by the end of the month. The buyer’s newly-formed company will trade initially as Turkingtons APV USA.

Other elements of the APV Baker business – including operations in Grand Rapids, Michigan and Peterborough, UK - are not included in this transaction and will remain part of Invensys until further notice. APV Baker is an acknowledged leader in the supply of unit machines and process systems for the confectionery, bakery, biscuit, snack and breakfast cereal sectors.

For more information please contact:

Invensys

Victoria Scarth / Mike Davies + 44 (0) 20 7821 3755

About Invensys
Invensys is a global automation, controls and process solutions Group. Our products, services, expertise and ongoing support enable intelligent systems to monitor and control processes in many different environments. The businesses within Invensys help customers in a variety of industries - including hydrocarbons, chemicals, oil and gas, power and utilities, rail, telecommunications, paper, food and beverage, dairy, pharmaceuticals and personal care - to perform with greater efficiency, safety and cost-effectiveness.

Process Systems provides products, services and solutions for the automation and optimisation of plant operation in the process industries. APV specialises in process equipment engineered into systems and asset services for food, beverage, personal care, pharmaceutical and chemical clients.

Eurotherm is a leading supplier of control and measurement instrumentation solutions and services to industrial and process customers. Rail Systems is a multinational leader in the design, manufacture, supply, installation, commissioning and maintenance of safety-related rail signalling and control systems. Climate Controls is a major provider of the components, systems and services used across the world to make commercial and residential environments safer, more comfortable and more efficient. Appliance Controls has the broadest system and component offering for the appliance industry worldwide.

The Invensys Group is headquartered in the UK and listed on the London Stock Exchange. With over 35,000 employees operating in 60 countries, Invensys helps customers to improve their performance and profitability, building value for end users and shareholders alike.

About Turkington Industries
A diversified engineering group headquartered in Burnley. A leading global company in the design, manufacture and development of sophisticated handling, conveying and process systems for baking and food processing markets. Leading products in the bakery market include dough mixers, depanners, specialised conveyors, spiral coolers, automatic tin stores plus fully automated packaging equipment. New product innovation is central to its future strategy in maintaining global leadership.