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Invensys looks to offload £750m assets

Board members not quite ready to start feeling down the back of the sofa for cash...

By Will Sturgeon

Published: 1 October 2001 08:28 BST

UK engineering group Invensys is hoping to raise £750m through the disposal of assets in a shake-up of its ailing business aimed at reducing its £3.2bn debt.

Software Systems, which provides software solutions for businesses, and Automation Systems, which provides systems and services for the manufacturing industry are likely to be among the units which are affected by the shake-up, though the company says it has not yet finalised any details.

The measures are to be announced by new CEO Rick Haythornthwaite, who replaces Alan Yurko today.

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