I am wondering is it a good time to buy ISYS now? Since it rise a bit last week.

fingers crossed - tried to close out position late friday (e-trade) and keep getting locked-out - the phones were busy and by time my call was answered sesssion closed, so sitting on 12k shares all weekend.

moneyman - is the rise sustainable or just a tick up based on good news ?

t.

Invensys has managed to offload a US subsidiary for 550m, says the Mail on Sunday. It is reported to be putting the finishing touches to an agreement to sell its Invensys Metering Systems business and will use a trading update this week to confirm that it is at an advanced stage of talks with a prospective buyer. Invensys, which runs a global portfolio of businesses in the production, process management and technology sectors, wants to sell more than half its operations to reduce a 1.6 billion debt mountain and service a 900 million pension deficit.

tomorrow news comming.....

LONDON (Reuters) - Invensys (LSE: ISYS.L - news - msgs) says its first-half trading has been in line with expectations and adds that a disposal programme, designed to restore its financial fortunes, is also on track.


Invensys has been hammered by a downturn in spending by telecom and information technology firms and a weak commercial building market. The engineer said in July it was still hard to predict when its markets might recover.

http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1059480588955

Should be close if the FT are reporting it.

here is the full ft report for those interested....

Invensys is in talks with two bidders to sell its water metering unit, valued at up to 600m ($1bn), as the former engineering conglomerate nears the end of its three-year disposal programme.


Danaher Corporation, the Washington DC-based industrial group, is vying head-to-head with the management of the water meter business to win control. A deal is expected in the next few days. Invensys had hoped to announce a sale of the division on Tuesday along with its trading statement.

The group, led by Rick Haythornthwaite, chief executive, said its performance in the first half was in line with expectations and sales in its two divisions were slightly ahead of last year.

Analysts appeared disappointed that the company did not update investors on any new disposals.

Harry Philips, analyst at Williams de Bro said: "This is a trading statement that is only just on the right side of being OK."

Another said: "Prior to the trading statement, there was excitement percolating in the market and the share price went up because people thought that disposals were imminent. But there has been no sparkling news." The shares edged up 1/4p to 34p on Tuesday.

Invensys is disposing of non-core units in an attempt to wipe out debt and start afresh as a rail systems and production management company. Its share price has more than trebled since its low of 9p this March. Invensys this year sold Baan, its lossmaking software group, and Teccor, its computer chip programme.

Invensys has net debt of more than 1.6bn, despite raising 1.8bn from disposals last year. In April, along with its second profit warning of the year, the group announced plans for a second round of sales to raise a further 1.8bn over the next two years.

Danaher, which makes domestic, commercial and industrial water and gas meters, as well as providing meter-reading services and solutions, recently said it intended to grow the business at an accelerated rate.

In a message to shareholders, Lawrence Culp, Danaher president and chief executive, said: "Acquisitions that strengthen existing businesses and establish new platforms will be the priority."

Once the water metering business is sold, Invensys will pursue the sale of Hansen Transmissions, a Belgium-based maker of wind turbine gearboxes.