Siemens completes Invensys buy

Tuesday, 7th May 2013

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The £1.74bn deal received EU clearance last month and with the completion Invensys’ Chippenham site is to become the main UK base for Siemens Rail Automation and a regional manufacturing and R&D centre for the company globally.

As part of the deal, Invensys chief executive Nick Crossfield has been named UK head of Siemens Rail Automation.

Crossfield said: “I am relishing the challenge of leading the strengthened Siemens Rail Automation business in the UK, building on the collective history of Siemens and Invensys Rail as innovators and harnessing the talents of our highly skilled and motivated people to create a unified organisation with a shared future able to serve the UK market with commitment and confidence.”

Gordon Wakeford, head of the infrastructure and cites sector for Siemens in the UK, added: “Nick Crossfield’s extensive experience in successfully managing change in large organisations will be a great asset to the strengthened Siemens Rail Automation businesses and to Siemens UK overall.

“We warmly welcome Nick to Siemens and look forward to working alongside him as we begin this exciting new chapter.”

In the year to 31 March 2012, Invensys generated revenues of £775m and an operating profit before interest and taxes of £116m.

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