Trading statement today - not good and shares have halved - just starting a thread in case anyone is interested in looking for the dcb ....

Currently 19p to buy - not thinking of buying at this time but just started tracking



ains


last bought 25/02 @ 12.5 last sold 26/02 for 10% gain

Hi Wordy

Talk that Siemens and Emerson are looking over its process automation division, which CSFB values at 448 million. Siemens is seen as a more probable candidate as Emerson, which is thought to be interested in its rivals client base, could face US antitrust problems in the event of a deal.

LONDON (AFX) - Invensys PLC said it has appointed Land Securities Group PLC group finance director, Andrew Macfarlane as a non-executive director with immediate effect.
In a statement, the company said Macfarlane will succeed Sir Graham Hearne as the chairman of the audit committee when the latter resigns on March 31.

Bloomberg




Invensys Plc, this year's worst performing stock on the FTSE 100, gained on expectations the six-day 20 percent decline in the price of crude oil will lower fuel costs at the maker of motors and railroad signals.

A war with Iraq ``could be longer and more difficult than some predict,'' U.S. President George W. Bush said, fueling concern about growth in Europe's second-largest economy after the U.K. government said retail sales fell in February.

Shares in Alstom, Invensys PLC and IMI PLC were downgraded, while SKF AB was upgraded by Goldman Sachs, which published a bearish note on the European machinery and electrical equipment sector this morning, dealers said. Downgrading the sector to 'neutral', Goldman said the outbreak of war had snuffed out the early signs of recovery that had begun to emerge in January and February. "Poor weather in February, together with delayed orders in March due to the macro uncertainty, leads us to expect some lacklustre first-quarter figures over the next few weeks," said the broker in a note to clients this morning. The broker downgraded Invensys and IMI to 'in line' from 'outperform', lowered Alstom to 'underperform' from 'in line', but upgraded SKF to 'outperform' from 'in line'.

LONDON (Reuters) - Engineering firm Invensys, which has slashed jobs and sold businesses to cut debt, has said it plans more asset sales to "secure a greater level of financial stability" as trading conditions have worsened.
Invensys ISYS.L said in the statement it expected annual core operating profit of about 250 million pounds for the year to March 31 and would not recommend a final dividend.

The company said the proposed asset sales, including the troubled Dutch software unit Baan, would have had combined revenue of 2.9 billion pounds in the year to March 2002.

The rump of Invensys after the asset sales would be the production management division plus rail systems, which recently won a London Undergound rail network contract.

"The board recognises the need to secure a greater level of financial stability and to enable sufficient investment of resource in the best of its growth opportunities," it said.

Shares in Invensys on Monday closed at 12-3/4 pence. They have lost nearly 90 percent of their value in the past year as a mountain of debt and weak markets worried investors.

Colin Marshall will step down as chairman of Invensys after its annual meeting on July 23, replaced by Martin Jay, the company said.

Invensys attempted to sooth market concerns with an asset disposal programme last year totalling 1.8 billion pounds, but analysts are concerned that the remaining businesses are less profitable.

Invensys, formed in 1999, has been hit hard by the downturn in capital spending by the telecom and information technology industries and a weak commercial building market in the United States.