Invensys plc is in talks with vendors to buy smaller companies in order to boost its Rail and Invensys Operations Management divisions. Chief Executive of Invensys, Ulf Henriksson, said, “The price for acquisitions has dropped as much as you can expect in this recession...there are many good value companies out there.” The Chief added that he is looking for smaller buys in the range of £50 million.

Invensys plc announced that Paul Lester will be joining the Board on January 1, 2010 as a Non-Executive Director and a member of the Remuneration Committee. Paul has been Chief Executive of VT Group plc, the support services company, since 2002. He was previously Group Managing Director of Balfour Beatty plc and Chief Executive of Graseby plc. He is a Non-Executive Director of Chloride Group plc. Bay Green will be stepping down as a member of the Remuneration Committee on January 1, 2010 but will be remaining on the Board as a Non-Executive Director and Chairman of the Audit Committee.

Invensys plc reported earnings results for the half year ended September 30, 2009. The company reported revenue of £1,066 million and operating profit of £102 million and operating cash flow of £92 million and £9.6 per basic share compared to revenue of £1,090 million and operating profit of £120 million and operating cash flow of £135 million and £9.2 per basic share for the same period a year ago. For the period, the company reported cash flow from operating activities of £41 million compared to cash flow from operating activities of £192 million for the same period a year ago. For the period, the company reported purchase of property, plant and equipment of £11 million compared to purchase of property, plant and equipment of £15 million a year ago. For the period, the company reported profit before taxation of £88 million and profit of £79 million compared to profit before taxation of £88 million and profit of £75 million a year ago. The company declared an interim dividend of 1.0p per share against nil dividend for the first half of 2009. The dividend will be payable on 11 December 2009 to shareholders on the register on 14 November 2009.