Invensys completes Powerware sale for US$560m

Invensys completes Powerware sale for US$560m

Invensys plc announces that it has completed the sale of its Powerware business to Eaton Corporation, the diversified industrial manufacturer, for the previously agreed cash consideration of US$560m.

For more information please contact:

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

Brunswick
Nick Claydon / Mike Smith / Michael Farrant
+44 (0) 20 7404 5959

About Invensys plc

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 (IPS) provides products, services and solutions for the automation and optimisation of plant operation in the process industries. Eurotherm is a leading supplier of control and measurement instrumentation solutions and services to industrial and process customers. APV specialises in process equipment engineered into systems and asset services for food, beverage, personal care, pharmaceutical and chemical clients. 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 39,000 employees operating in 60 countries, Invensys helps customers to improve their performance and profitability, building value for end users and shareholders alike.

About the Powerware business
The Powerware business is a leading global provider of comprehensive power quality and power management solutions, primarily serving the computer, telecommunications, financial, medical, government and corporate data service industries. Powerware’s installation, servicing, monitoring and control systems and services help to provide clean and continuous power through single phase uninterruptible power supply ("UPS") and direct current ("DC") systems and to all products in the power quality segment. Powerware has a diversified geographic customer base, offering its products and services in the Americas, Europe and the Asia Pacific region.

Powerware is headquartered in Raleigh, North Carolina and operates 10 manufacturing facilities worldwide.

About Eaton Corporation
Eaton Corporation is a diversified industrial manufacturer with 2003 sales of $8.1 billion. Eaton is a global leader in fluid power systems and services for industrial, mobile and aircraft equipment; electrical systems and components for power quality, distribution and control; automotive engine air management systems and powertrain controls for fuel economy; and intelligent drivetrain systems for fuel economy and safety in trucks. Eaton has 54,000 employees and sells products to customers in more than 100 countries.