Monday, July 14, 2008

I am sure your blogger of the 28th February is pleased that IPS have removed the EMEA President due to continued poor performance. Shame he will be replaced by an IT person as IPS have now issued a standing instruction to their HR departments that new employees must be from the IT industry (or be from Texas!)

Sunday, July 6, 2008

Rick Bullotta is now part of the combined IPS Wonderware Development Organization.

Sunday, July 6, 2008 - Re: Rick Bullotta question:

Rumor has it that a direct reportee questioned Sudipta's 20% growth goal following the best growth year ever, and was summarily dismissed.

Sunday, July 6, 2008

Did Rick Bulota leave WonderWare? I noticed he is no longer on the web site. I would be surprised, since he just joined them recently.

Thursday, June 26, 2008

The June 23 analysis is spot on.

Using the Control Magazine Top 50 Global Automation Vendor data it is pretty apparent that the current Invensys story is simply good timing. In 2003 Invensys was #4 globally with a 9.2% market share. In 2004 Invensys dropped to #6 globally. In 2005 Invensys was #8 globally and in 2006 was #9 globally with a 5.3% market share. During this time the overall market (Top 50 global automation guys) grew 40.9%. As they say, a rising tide lifts all boats.

Tuesday, June 24, 2008 - from an Invensys analyst:

Really good stuff on Invensys - can't argue with any of it.

Ulf is interesting. I think he really does believe he can make something of Invensys beyond financial and margin recovery (and his share/options could be worth over £20m if all goes well). Also in my time of following the company (only 4 years) I think there has been a consistent tendency to underestimate them, especially by the short-termist, reactive analysts.

Controls and Eurotherm still look like hard work, though Rail may be more attractive because so much new network is being built around the world and they seem to be winning their share.

I look forward to the Indian/Chinese interest. I still think the pension is a barrier to any takeover and it may take towards 500p/£4bn to win over the key shareholders. Will anyone pay that or, as you say, will it just go in bits?

I found Ulf very personable when I met him last year and very open. I have no idea what he is like around the company of course except I heard he is first in and last out. I don't doubt he would be better off running one of the big guys, though he may do it via a takeover of Invensys?

Ulf says Invensys is a normal company now. Churning through the Invensys Annual Report and the relentless corporate crap about values I tend to agree with him (though I almost found myself nodding approval at one point!)

Tuesday, June 24, 2008

I remember reading a press release some time ago boasting that the Triconex brand had been certified for use in nuclear plant control. Many are predicting a resurgence in atomic power - please comment on how Invensys or any of the other automation majors are positioning themselves to capitalize on this. Moreover, do any of the other majors have in their product portfolio a modern line of nuclear certified systems offerings? A bigger question is do they see this is a potential future profit center?

Monday, June 23, 2008

JimPinto.com eNews # 250, 23 June 2008 includes analysis of Invensys results for 31 March 2008.

* Latest Invensys Results
* Invensys recovery perspectives
* Growth strategy maximizes Invensys value

Extracts:

• Invensys has clearly made big strides. CEO Ulf Henriksson must be congratulated for leading the company back into success. While he claims that he will continue the transformation, clearly the best bet for him, and for Invensys, is to remain solvent and show promise till someone decides to buy.
• Invensys is now again in the FTSE-100 and will be re-classified in the "Software" sub-sector of the "Technology" super-sector. The "Software" classification tells a lot about how the future Invensys wishes to be perceived.
• Invensys is becoming "hardware independent", with greater emphasis on solutions and specifically on integration between the plant floor and ERP. It's clear that future investment and acquisition plans will be focused around Wonderware, ArchestrA and InFusion. Where does this leave Foxboro, I/A, Triconex?

Click to read Pinto Analysis of Invensys Results

Sunday, June 22, 2008

As an ex Invensys employee I was quite surprised to see the year-end results. Especially after the EMEA mid year meetings and that Invensys ME was well off target on revenues for the year (Sales were close to target). Credit, where credit's due. Ulf and the Invensys employees have certainly turned the company around. However I was also wondering, (and I haven't done the exercise,) if the oil price hadn't been so high and the oil companies making such large, unprecedented investments in expansions and new plant, would Invensys have done so well? In other words, is the true performance of Invensys being "hidden" by the large amount of "additional" work coming from the oil business. Can someone advise?

Tuesday, June 17, 2008

As a shareholder, I love this gossip blog. Can keep me entertained for hours. Good thing Invensys hasn't decided to offer all the weblog subscribers a means to share opinions off the public arena to avoid the public humiliation. Fortunately this doesn't seem to bother Invensys.

Rumours now are that Invensys (again) will attempt an IS outsourcing. They also tried this in 2002, signing a 1bn deal with IBM Global Services. It was started off by Yurko, and later backed by Haithorneswaite. However the CIO changed some SVP's mind, and the deal went down the drain joined by millions of US$ for wasted efforts on both sides.

With the VP and SVP refresh rate Invensys per tradition can deliver, I am sure that none of those exec gentlemen are around any longer, and the fact that Invensys didn't let itself outsource is a long forgotten factual bit of information.

So yes, by all means, believe that IS literally is as uncomplicated as accounting and finance, and try it on AGAIN! And lets see how it will go this time round. After all, its just shareholder money. The winners clearly will be the readers of this blog.

Best rgds: The holder of 22,000 still worthless Invensys share options....

Friday, June 6, 2008

Who is the new VP-EMEA of M&I? Where does he come from? Where has Franco Franelli vanished?

Wednesday, June 4, 2008

Another "small" profitable center is chipped away . . . Burco, was part of the Rail Group is now gone. Who needs a few extra million dollars a year ?

Tuesday, June 3, 2008

Talking of Invensys Middle East mnagement, is there such an entity? The whole setup is on auto-pilot with the only business coming in being expansions & modifications of existing systems. As they say when the tide rises everything floats including things that normally sink.

Friday, May 30, 2008

Could not agree more with the comment about the EMEA Field Devices Director. Everyone who has intercated with him, will tell you he has no clue about the M&I business. His sole claim to fame seems to be his proximity to the Middle East management.

Thursday, May 29, 2008

The new sales transformation has some serious issues. Several specialists are feeling marginalised and hurt. Some appointments like EMEA Field Devices Director are seriously flawed. A guy who didn't do anything worthwhile in Emerson and nothing at Invensys in ME since joining has been rewarded with a plum position of heading EMEA. This might lead to serious problems for M&I business and looks like a downslide is on cards.

Wednesday, May 28, 2008 - Future of the Controls business?

Pretty bleak from what I see. Europe effectively does not make any money and the relationships with major customers is not good. Asia Pac is not growing even with the relocation of customers from the other regions China, Thailand etc. Can't comment on the Americas really Which is the main part of the business but the 10-70% prices increases pushed through 18 months with no notice have not helped already poor relationships. Expect more Plant closures and consolidations and the ex Honeywell people to gather around the PLc Honeypot.

Sunday, May 25, 2008 - from an Invensys shareholder:

I read your piece on consolidation in the automation industry. I agree that Invensys seems rather stuck on a path of incremental growth, although listening to Ulf at the finals presentation I got the impression he's playing a long game, especially with In-Fusion. He also seemed to think he was going to be buying rather than selling, but of course he may not have much choice.

As a shareholder I suppose I am reluctant to see Invensys sold, though there is a price for everything. If you had to put your money on it who do you think will take them out and when? I confess to not having a clue, though I suspect the pension liability (soon to be revised upwards and probably too expensive to be sold on) is a barrier and any buyer of the whole (rather than just the pieces) would be left with parts that did not suit them. Though often neglected, the rail division might be attractive?

Sunday, May 25, 2008

The Invensys EMEA (Europe, Middle East & Africa) Field Devices Director is an ex-Emerson guy. This tells it's own story. Why will anyone leave Emerson instrumentation and join Invensys instrumentation?

Saturday, May 24, 2008

Rick Haythornthwaite rises higher and higher following his "glory days" at Invensys. He is now Chairman designate of the retail side of the UK's largest real estate company.

Click this weblink

Friday, May 23, 2008

The way Invensys is looking at it's instrumentation business can be gauged from their recent appoitment of a Field Devices Director for EMEA (Europe, Middle East and Africa). If this guy does not close up their business nobody can and we in the competition are watching the fun.

Friday, May 23, 2008 - from Walt Rovira [walter_rovira@teledyne.com]:

In JimPinto.com eNews 23 May 08, you write: "...there are those who suggest that Foxboro's instrumentation side is for sale." Who are "those" people?

Reshuffling the Automation Majors

I would be interested to contact "those" people. I believe an Invensys divestiture of Foxboro's legacy instrumentation lines (pressure, temperature, flow and analytical) can significantly improve Invensys shareholder value and allow the company to focus their strategy.

Friday, May 23, 2008

I would like to see some opinions and thoughts on the Invensys Controls division. With the recent sales of their reversing valve business and safety products business, what are the prospects for future growth? Are there more divestitures on the horizon?

Thursday, May 22, 2008

Not that I don't sympathize with the many APV employees that come to your weblog to find some empathy amongst each other, but perhaps the Invensys weblog isn't the place for this anymore. Invensys as a whole is performing very well these days and at least in my division, Wonderware, we are all incredibly happy with the direction we are heading. Logging in to this weblog and seeing all the concerns from the APV group gives the blog a negative feel that the core of Invensys doesn't feel anymore.

4 years ago, sure, EVERYONE was on these blogs. But Invensys has changed and I for one would like to see our optimism appropriately represented in these blogs. Or if that's too much (as I understand it's always easier to make an effort to complain about things than it is to be positive) atleast having silence on the site.

Pinto Note: You're right. APV news/views will no longer be posted on this weblog.

Wednesday, May 21, 2008

Anyone who thinks that Lance delivers anything more than smoke and mirrors is kidding themselves. I too worked with Lance and could see his poor leadership and poorer management style. He finds ways to manipulate numbers to appear to be delivering the results. All Lance's fans were giving him props for turning APV around - he did nothing of the sort. He window dressed the company for a sale. His philosophy is the stuff that anyone can learn in business school. Operations and management at APV Lake Mills had done a fine job in the past particularly Wheelwright and Keene. Lance is a farce and he will fail at IPS.

Monday, May 19, 2008

Bravo to the posts on May 18 and May 19.

It's wrong to single out Lake Mills, however. Until APV figures out how to be externally rather than internally focused at ALL the factories, APV is destined to keep repeating its past. Fixing supply chain must go hand in hand.

Also, there is no Us and Them. Flow is now on the hook with APV and unless the issues are corrected quickly, it will start to effect share price. If you thought previous management was ruthless, stay tuned to see what happens in the coming months.

Monday, May 19, 2008

Having worked with Lance, he knows how to deliver the vision. The problem is - if the operations group doesn’t deliver, the vision will become out of focus quickly. An example of this is the poor leadership at the Lakemills factory. It won’t be long before (if not already being discussed) SPX will clean that house.

Sunday, May 18, 2008

APV is still a cash losing company; just read the SPX first quarter results, specifically the flow technology segment in which every cash issue directed at APV. Therefore, for every comment on the changing management and their predecessors, the employees should look at themselves and understand that no matter who is in the management team, it is the bottom line that counts. SPX is a company driven by the bottom line.

Friday, May 16, 2008

Just my opinion: But I have noted a couple quotes that have been posted on this blog. If you have ever heard Lance speak to a group and are familiar with his barrage of cliches you know that he is on this blog posting. and in some cases he is defending himself. I sat in on one of his Townhall meetings at APV and he mentioned this weblog, and some of the rumors posted about closing the Buffalo office. If you want the truth about Lance read the September 11, 2007 blog; it says it all. We at APV are glad he is gone, and his useless friends that he put in management positions.

Friday, May 16, 2008 - re. Thursday, May 15, 2008 - from a news reporter:

HR was outsourced also. Two well respected and very comeptent Foxboro senior engineering managers are being shown the door and replaced with new faces. I don't want to mention their names here but most engineering folks know who they are.

Thursday, May 15, 2008 - from a news reporter:

We're hearing from IPS employees here that the Foxboro, Ma. Operation (formerly The Foxboro Company) is being not-so-gradually outsourced. Financial functions have already been sent to India. One employer told me that the company’s goal is to eliminate the Foxboro property within two years.

Heard anything? I’m trying to get employees on the record before attempting to verify with IPS. One source has the workforce reduction over the past 12 months at 30 percent.

Thursday, May 15, 2008

So I guess that answers the "what were they up to" question. Solid performance, getting the financial house in order, and poised for growth. Way to go, guys.

Thursday, May 15, 2008

LONDON (ShareCast) - FTSE 250 movers: Invensys eyeing further progress:

Bosses at Invensys expect to make further progress this year following an 18% increase in full year operating profit despite weakness at its Controls business. The firm, whose shares have been popular in 2008 so far, said operating profit for the year ended 31 March 2008 rose to £254m from £216m the year before on revenue up 5% to £2.11bn. However, orders slipped 3% to £2.04bn as an improvement at Process Systems was offset by a decline at Rail, reflecting uneven order intake, and the anticipated reduction at Controls.

The Controls unit, which provides components, systems and services for residential and commercial building markets, saw orders fall 7% to £618m and revenue by 6% to £624m. It blamed most of the decline on some softening of demand in the US and Europe as housing markets deteriorate. The division makes up around 30% of group sales.

Monday, May 12, 2008

Any word as to what Ulf and Sir Lance are up to?

Sunday, May 11, 2008

Jim: I thought the world had simply gave up on Invensys. Glad to read your notice of system issues and that you are backup and running!

Thursday, May 8, 2008

Jim, sorry to see that your web log for Invensys has ceased to exist. Perhaps you can resume it in the future.

My apologies. Due to spam filters and other reasons, the weblogs have been blocked. The problem has now been corrected, and your comments are now coming through. Please continue your weblogs.

Jim Pinto

Thursday, February 28, 2008 - re: IPS in Europe and their performance:

The reason - a regional president more capable of influencing the Senior management in Invensys than in delivering business results - how much longer will Invensys continue with such underperformance?

The most capable regional president (Asia Pacific) left recently – he no doubt joined a company that rewards people who deliver rather then talk a good job !

Tuesday, February 26, 2008

Kinda makes you wonder what's next for Foxboro and Triconex. My prediction - Foxboro is now in the "dressing up" stage and Triconex is being prepped. I guess only time will tell and I'm betting that by September we'll pretty well know hot the cards are being dealt.

Monday, February 25, 2008

Anyone with a brain should have been able to see that Ulf and Lance were window dressing APV for a sale for the last 2 years. They let go of all their experienced higher salaried people and did some creative book keeping to get APV ready to unload. I feel bad for all the kids and middle managers brought in that bought into Lance's BS and now will be on the street.

Sunday, February 24, 2008

APV is no longer a part of Invensys. Everyone blasted Lance, yet look at the decline in APV sales since he jumped shippe or rather his buddy Ulf got him out before the sale. Who is left running APV? SPX got screwed when they purchased APV. They will soon find out. I wonder how long before SPX figures out that they doen't know how to run the company?

Thursday, February 7, 2008

So Q3s came out fine in the end, but can anyone shed any light on the weakness in IPS in Europe - flat for the quarter - which they blamed on goverment/oil company squabbles holding up the placing of orders? not heard that one from anyone else in the industry, sound credible or not?

Thursday, February 7, 2008

Ulf says: Today I am pleased to announce another good quarter of operational and financial performance. For ourselves and the market, these continue to be the ongoing Group-level indicators highlighting the progress we continue to make during this financial year on our journey to becoming a high performing, sustainable and cohesive company.

And stocks were up 11% last I checked.

Thursday, February 7, 2008

As you can see from the Q3 results they announced today, things seem to be looking pretty strong across the board. From what I can see, Wonderware is indeed doing quite well and gaining momentum, but so are many of the other parts. Invensys isn't "shrinking", it is "getting fit". Mr. Henrikkson and his team have done an excellent job in cleaning up the financial picture, refocusing the company, and the stage seems set for a reinvented Invensys.

Wednesday, February 6, 2008

I hear all this doom and gloom, yet WONDERWARE seems to be the exception...lots of good buzz in the market on growth and new focus ...what gives?

Wednesday, February 6, 2008

Stock tanking (again) ahead of tomorrow's Q3s, Emerson and Whirlpool yesterday talked a pretty good story (to follow on from Honeywell, Rockwell etc.), am I the only one confused?

Tuesday, February 5, 2008 - to the "Not a wannabe":

What company do you work for now? Maybe some of the Invensys cast-offs can join you?

Monday, February 4, 2008

I used to work for a small but profitable part of Invensys and became a share holder. I wrote off the value of the shares long ago and only hold onto them in case someone with some financial accumen gets hold of the company. They said Invensys was in decline in 2001 and now it just keeps getting smaller surely there can't be much left to sell? I am suprised you guys keep posting the messages as it is obvious no one from the company in a position of authority bothers to read what is really going on. How can they keep spending on new offices and reshaping when the company continues to go down the pan. I am glad I got out 3 years ago to work for a company with real values and ambitions rather than a bunch of wannabes who are only interested in lining their own pockets.

Monday, February 4, 2008

Responding to the "dancing girls" comment. Years ago, at a Wonderware Distributor Conference, the USC cheerleaders performed, and one had an ACTUAL "wardrobe malfunction".

Monday, February 4, 2008

Jobs moving to India, layoffs, staff meetings in Las Vegas. What's next for Invensys Process Systems, dancing girls at the sales meeting?

Sunday, January 13, 2008 - respondig to "How is Lance doing?":

The only change I can see Vandenbrook has made is getting IPS NA to make the forecast. From where I am sitting he is only executing what he is told. Seems the EDS team sitting in Dallas is making all the calls. There seems to be a lot of focus on spending money on new systems, corporate offices, and meetings, not much else. Time will tell.

Thursday, January 10, 2008

I am curious to know how the "hero" of APV and the one who will save IPS, Lance Vandenbrook, is doing at IPS. What chnges have occured, any improvements?

Tuesday, January 8, 2008

A funnier/lighter side to the Invensys predicament was published in the letters page of the FT, see below, published: January 3 2008 - from Mr John Le Sage:

Sir, If any FT readers are looking for an equity investment strategy in 2008, I have discovered the most consistently successful method possible.

My first grandson, Keir, was born in February 2002. I subsequently bought shares in Kier Group for £4.30 and sold them for £16.60. My second grandson, born in 2004, was called Corin. I bought shares in Corin Group and they doubled. My third grandchild is due in July. I hope they don't call it Invensys.

John Le Sage,
London SE21 7AJ
Copyright The Financial Times Limited 2008

Saturday, January 5, 2008

Now that APV is gone, what will happen to the rest of the Invensys businesses? Who will be the scapegoat now?

Saturday, January 5, 2008

APV gone, Firex gone. Brands and products diminishing. Share price 50% of what it was 6 months ago. Time for Ulf to get his finger out and get hold of this business and deliver for shareholders. Shape up or ship out Ulf !!!

Tuesday, January 1, 2008

Monday, December 31, 2007 - Extract Charlotte Business Journal

SPX Corp. has completed its purchase of APV, a manufacturer of process equipment and engineered products. When the deal was announced in October, it was valued at $510 million.

APV is a division of Invensys plc, which will become a part of SPX's flow-technology segment, makes pumps, valves, heat exchangers and homogenizers for the food, dairy, beverage and pharmaceutical industries.

APV has 3,000 employees in more than 40 countries. The addition of APV will bring the total number of SPX employees to 17,000 worldwide.

SPX markets flow technology, testing and measurement equipment, thermal equipment and services, and industrial products and services.

Friday, December 28, 2007

I am beginning to believe that Paulett Eberhart was really hired into IPS with a pre-arranged agreement with EDS. Part of the grand plan to transform/evolve IPS into something that EDS would find appetizing -

1. Leave intact Simsci, Wonderware, Infusion to provide marketing bullets of a real proven "sensor to boardroom solution".
2. A huge installed base across the globe to sell this new EDS/Simsci/WW/Infusion services.
3. Sell Tricon and I/A to get max cash. I/A will not be worth much but Tricon can still command a premium.
4. Get out of traditional instrumentation and control business altogether.

Friday, December 21, 2007 - news extract:

Invensys has agreed to sell its Firex safety division to the UTC Fire & Security unit of United Technologies for $44m in cash. The deal for Firex, which makes residential smoke and carbon monoxide alarms, is expected to complete by the end of January.

The business generated operating profit of $4m on revenue of $80m in the year to 31 March 2007. Invensys said the sale proceeds will be used to pay down debt, adding that Firex, together with the reversing valve business sold recently, will be treated as discontinued operations in the third quarter 2007/08 results due to be announced on 7 February.

Tuesday, December 18, 2007

The IPS APAC guy is gone. But he left a black hole which many of projects has negative margent and negative cash flow. He forced out all country managers and his financial controller so he can do funny accounting. Some one better send auditor there before he leaves.

Friday, December 14, 2007

Something just doesn't quite fit in about this EDS buying IPS thing.

EDS, I assume, is a service and consulting company. Zero products. The only possible motivations for any IT type company to buy IPS would be Wonderware (which is technology & technology since WW sells thru 3rd party channels) and software part of IPS which would be Simsci (which is technology & products plus some consulting and application expertise).

But hang on - EDS has never handled products before - so the WW and SimSci products are unlikely to be the real targets. So you are left with people expertise from Simsci. Good bunch of people but to buy over the whole IPS just for that? Unlikely although possible.

Thursday, December 13, 2007

Heard that CEO, IPS APAC has been moved. IS this true? Who will succeed him as new CEO?

Tuesday, December 4, 2007

The word on the street is that this partnership of EDS/IPS is going to happen and with 300 offices in the new HQ to fill, the word is soon.

Triconex has been hawked around of late and as one of the more profitable divisions. What does that say for the other hardware and services divisions? Wonderware, Arhestra A and InFusion will form the backbone of the new strategy for IPS.

Seems Jim's predictions are about to come true.

Sunday, December 2, 2007

EDS buying IPS? It really sounds far fetched, but I suppose never say never.

No matter what one may say about consulting, MES etc, 80% of any DCS company's turnover will come from where they have been coming from - EPC bid, Enduser MIV/MAC sometimes, MRO business covers the rest. The business model and selling channel are so very different from EDS and unlikely to change much going forward. Sure consulting and MES and IT integration can be good margin but if you are serious about DCS/SIS business, that is NOT where majority of your turnover is going to come from.

Thursday, November 29, 2007

How much truth is there to the news about EDS buying Invensys, selling off the IA, Triconex and M&I manufacturing facilities, and then continuing to sell Triconex only (buy/resale), focusing more on services and consulting (EDS model?)? Yokogawa has partnered with Accenture, Honeywell with IBM to address this whole IT infrastructure space, and for those EDS competitors to tap the installed base of Yokogawa and Honeywell, respectively. Seems like it makes a lot of sense as the IA market is quite mature, saturated, etc, and IPS has a huge installed base for EDS to run its fingers thru. And EDS certainly doesn't want to get into being a hardware vendor, but more of a solutions provider. Also heard that the M&I business may get sold to GE...

Monday, November 26, 2007

APV USA - Invensys leadership endorses "One last stick in the eye" to APV even after the sale. APV USA just went through a very badly planned "SAP Upgrade" which saw the order enter department in the USA refuse to accept orders for a week because of the confusion and lack of planning. For the last two weeks; "No way" to find parts, "no way" for order shipment updates, "no way" to get confirmations and forget trying to review new business as all were focussed on emergency situations. Give Invensys and the APV USA transitioned leader Lance V their due. They left the hard work till after they were gone, and sold what they could. That type of behavior seems to be rewarded too often. The sale of APV to SPX takes effect at the start of the new year. It should happen faster.

Sunday, November 25, 2007

Reading the transcript of Q2 conference call, "InFusion is now up to order rates almost $ 200 million." That is almost one third of IPS business. I am not sure if we can trust the number. But if the number is correct, then InFusion did not bring in much of financial benefits.

Saturday, November 24, 2007

The stock is tanking because people close to the company realize how poor things really are. Controls recently lost a major account here in the US. Process Systems are not generating any cash and Controls never have. Reading the posts on here IPS seem more concerned about the location of their headquarters than their customers. Meantime I believe that the Railroad business (the only business making cash) is in trouble with a major customer going bust. If I remember correctly the Railroad customer was in the UK for the London subway and was the biggest order in Invensys history, so it has to be a major blow. Selling APV was a good move but the company's silence on these other problems is strange. Could be the problems are not true and the stock is simply oversold on the rumours. Let's see if there are any announcements now that Thanksgiving is over. If the third quarter results are poor then the stock could go into freefall.

Sunday, November 18, 2007

The problem is cash. IPS missed cash in Q1 and can not recover in Q2. As a result, the H1 cash conversion is only 24% and brings the group cash conversion to 69% for H1. This is more than just delay few invoices. The real problem is IPS took orders with bad cash teams to grow the top line. With 20% turn over in sales marketing force, no one can figure out what is happening. But shareholders are smarter. They know something is wrong.

Friday, November 16, 2007 - Re. Stock price drop:

I was surprised that the stock dropped. The last financial news release seemed positive but I guess it's a matter of not meeting the analysts expectations whatever they were. There could also be some negative things going on that haven't been made public but are known to the analysts.

Friday, November 16, 2007

This morning the shares were down to 251p which puts them below their 12 month low again. Since July they've fallen 177p or 41% from their height of 428.25p. (In the same period the FTSE 100 has fallen about 300 points or just 4.5% so they can't really blame the market). I thought getting rid of APV and sorting out the pension fund was meant to improve things. Does this make them more or less likely to be a bid target?

Tuesday, November 13, 2007

Moving Asian HQ to China may seem like a no brainer, but may not be ALWAYS the right thing to do. Taxation, banking and financial restrictions are many reasons why Shanghai (the "obvious" choice within China) is not always superior to Singapore, Hong Kong or even Kuala Lumpur. Contrary to popular thinking, it is very expensive to hire/retain quality people with good enough English skills in Shanghai. And Chinese are NOT as pan-Asian in their outlook as Singaporeans, Hongkongers or Malaysians - Chinese cannot manage the large and important markets like India and Korea well. So retaining Asian HQ in Spore or HK or KL may still has its merits for mid term future.

Monday, November 12, 2007

Hmmm...not sure how this "Singaporean running IPS China" perception comes about. Both IPS Business Group GMs in China and all their eight sales and operation directors are born, bred in mainland Chinese. One of the GMs is probably holding a US passport, but he is Chinese no doubt. The service director is Chinese, the HR director is Chinese. The only Singaporean Director in China is the Logistic head.

OK - Wonderware China is run by a Singaporean, but that is quite seperate.

Monday, November 12, 2007

On the posting (08 Nov.) requesting assistance in analyzing Invensys and IPS and the process industry. How do I contact you?? [See email address in original weblog]

Monday, November 12, 2007

IPS probably has the most localised management among all the major DCS/Automation companies in China. NOT THAT THIS IS A SURE FORMULA FOR SUCCESS THOUGH. May be good to have some mix of Asian/Spore/Western expats. Inject some global perspective and good mgt practice.

Honestly I think if they can afford it, they would sent more expat there right away. And of course there is a good level of politics like every where else...and of course they are fighting uphill...

Sure you are talking about the right company?

Sunday, November 11, 2007

Most companies move their AP HQ to China in order to capture the growth there. But IPS moves in Singapore managers to manager China business with poor acceptance. IPS business is declining there except Triconex. This is a typical example of IPS internal politics over business.

Sunday, November 11, 2007

"Senior Rockwell Software Exec" is not who you think. He is/was a direct report to the head of Rockwell Software, and was also with GEFanuc. Yet another industry talent added to the WonderWare team. Something must be going on!

Friday, November 9, 2007

Pankaj Mody is the "father" of ArchestrA. He has been at Wonderware since the mid-90's, and has driven the product/project from the beginning.

Friday, November 9, 2007

Who is Pankaj Mody and where is he from? New VP of Dev for both IPS and WW.... So Invensys is serious about keeping IPS?

Thursday, November 8, 2007

It's not a "Senior Rockwell Software Exec" that is joining Wonderware; its a Branch Sales Manager in the UK who has sold a bit of MES, and is chasing the big bucks he is being offered as an "MES Sales Consultant" WITH A BIG TARGET TO GO WITH IT !

Thursday, November 8, 2007

The number one requirement to be in Invensys management is that you know nothing about the business that Invensys is in. Your pay is based on your slickness level. Dress slick, talk slick, write slick memos, always use the latest techno-jargon but avoid details. If you are highly involved in the details of the business or product, you drop down the pay scale.

Thursday, November 8, 2007 - email:rupert.coull@redburn.com

Is anyone out there interested in coming to the aid of a UK equity analyst who is taking a look at Invensys, and is struggling to get to grips with the entire area of Process Systems (what it does, how it does it, how people get paid for it) and Invensys' competitive position in the market?

Tuesday, November 6, 2007

A senior Rockwell Software exec is also apparently leaving to join the Wonderware "dream team" as well. I "wonder" what is up there?

Tuesday, November 6, 2007

Brilliant post from Monday re APV and light bulbs. It would be really funny if it wasn't so close to the truth. Maybe you could expand a bit more in another post. Has to be more from such a rich vein of under utilised talent. You did forget about the VP of Sales afterall. Two light bulbs with every 1 homogeniser sold before end Nov?

Monday, November 5, 2007 - APV USA - A New Beginning:

APV and SPX are a great match. There will be issues, but SPX and WCB have proved that they can manage and profit with a plan. Without support, APV USA was lost; in any event. APV is not just an EU and Far East Entreprise. There are real assets here at home. Invensys set-up the APV-USA Division for a sale without real support. Let us hope that SPX has better Vision.

Monday, November 5, 2007

I wonder how long it will take Sudipta to flatten out the organizational chart at Wonderware. It some situations they have 2 VP's reporting to another VP. Good luck Sudipta.

Monday, November 5, 2007

Question: How many APV execs does it take to change a light bulb?

President: Who needs light bulbs when I can bend over and bathe the room in sunshine?

VP Sales: Once IT get the CRM working, we can identify our installed base and run a marketing campaign targeted at replacing all bulbs, blown or not. This will provide real added-value for all our customers.

VP Operations: Now the teething troubles at our low cost Chinese bulb factory have been ironed out, deliveries have come down from 16 weeks to 4. Honest! If you don’t believe me I can show you case studies demonstrating deliveries - - erm, well, one example, at least.

VP Supply Chain: Good news, an old friend of mine has a good supply of wax, available at only a slight premium over current market rates. To safeguard bulb production, I’ve signed him up to a 20 year deal. However, we still need to find a supplier for those stringy bits that burn down as the wax is used up. Thus, I’m submitting a manpower requisition for another 20 ‘Supply Chain Professionals’.

VP Operations: Erm, bulbs are made from glass and wire…

VP Supply Chain: Ah, ok. Clearly, we are having trouble sourcing people of the right calibre to work in supply chain. Consequently, I’m proposing we double our intake to 40 and raise the skill profile to ‘Supply Chain Consultants’.

VP HR: Good plan. To further support our light bulb efforts, I’m hiring 10 ‘HR Talent Partners’. Their role will be to identify the brightest of bulbs and ensure that they remain switched on throughout their career. The ‘Partners’ will be specifically aligned to the needs of our new sweatsh…sorry, ‘state-of-the-art manufacturing facilities’ in China and Eastern Europe. The ‘Partners’ will be based at our London Gatwick HQ.

VP Engineering: I’m gonna fire the next person who mentions bulbs. They’re a load of crap! I followed all the instructions – compost, fertiliser, water – and still no light. Pah! Besides, who needs light bulbs when you’re as far up the President’s ass as I am.”

Monday, November 5, 2007 - extract from Invensys press release:

Sudipta Bhattacharya Appointed President of Wonderware

Invensys today announced that Sudipta Bhattacharya was taking on a new role within the organization as president of the Wonderware business unit of Invensys. Sudipta just recently joined Invensys (August 2007) as chief software solutions officer. He came from SAP AG, where he was senior vice president of solutions management for SAP’s supply chain, manufacturing and product lifecycle management applications.

Mike Bradley (former Wonderware head) became president of Wonderware in November 2002. Under his leadership, Wonderware has consistently achieved over four years of double-digit growth.

Saturday, November 3, 2007

The changes at Wonderware represent some of the most exciting news in an otherwise very boring industry in a LONG time. I'm looking forward to seeing what that team is working on.

Friday, November 2, 2007

Sudipta Bhattacharya is one of the best leaders and straight forward execs in the entire Software Industry. It's to Mike Bradley's credit that he recruited such a known and proven superstar.

Friday, November 2, 2007

I joined APV in 1966 and left after 38 years as Vice President APV Group. I have met all the APV founders, these who participe to expansion and developpments, etc...Sir Richard Seligman, Sir Peter Seligman, Madron Seligman, Peter Benson, Fred Smith and others.

I remenber the begining of the end when APV acquired Pasilac and the permanent and actual war between Danish domination and the rest of the world. Finally from this time APV was more looking for internal problems and reorganisations than customers. The end was with Siebe/Invensys, to make cash and pay for Baan acquisition, APV sold all ice cream business, Burnett, Gaulin death, etc...and finally Anhydro.

What is APV today, a company as many in the world able to make CIP, UHT, yoghurt lines, etc... but more expensive, without innovation, and who will be reduce to sell centrifugal pumps and homogeneisers in the future. I will continue with my APV, when APV was Crawley and not the actual. But what mean in announcement the purchase and sale of APV France?

Thursday, November 1, 2007

The news of the sale of APV and the inevitable trauma that will follow will come as a shock to many in a Company that is 2 years away from its centenary in 2010.

APV was formed in London in 1910 as the Aluminium Plant and Vessel Co. For the first 80-90 years the company was a world leader in Process Engineering for the food industry. Under such enlightened CEOs as Peter Benson, (Sir) Peter Seligman, and Fred Smith, it gained a reputation as an innovative and inventive Group.

The writer joined APV in 1969, finally retiring 36 years later after a career that was, to say the least, interesting. The trauma referred to will be the carving up of the various products which APV supply that already exist within SPX.

We well remember:

• The arguments, when Crepaco was purchased as to whose pumps and valves would go forward.
• The bitter wrangle, when Pasilac came on board, between Crawley and Kolding as to whose PHE would prevail in each market.
• The almost nationalistic moves between Denmark and Germany as to what would be made where.

Thursday, November 1, 2007

Hey, the last statement about the Wonderware guy from Dallas was a bit unfair. Mike Bradley personally recruited Sudipta Bhattacharya to Wonderware from SAP! Sudipta just happened to live in Dallas and has no connections to IPS or the EDS people from Dallas. Mike has also known Sudipta for several years.

Sudipta was the guy that helped lead SAP into the manufacturing space. He is a very bright visionary leader that will lead Wonderware into the next generation. Wonderware is in the very good hands of Sudipta and the very strong leadership team in Lake Forest, CA. So speaking of the "Next Generation" ... if Mike Bradley was Captain Kirk, then Sudipta is Captain Jean Claude Picard ... and he will lead Wonderware into the Next Generation.

Watch out competition, you are definitely not going to like this change!

Thursday, November 1, 2007

Mike Bradley, President of Wonderware, is out. The new boss is a guy from Dallas. Mike made a short speech to the employees, but when asked "what will you be doing next?" he didn't know and said as much. Mike always seemed the kind of guy who had a plan for things, even for his retirement. This was an ejection, not something voluntary. It's a shame, though: Mike is a good guy and he kept the spirit of fun at Wonderware for all these years, which has been an important differentiator for the company. I don't see the new guy as "fun."

Thursday, November 1, 2007

Word to the wise: SPX management need to hit the ground running with a clear direction and plan for the APV business. Clarity is needed on why and what parts of APV SPX will be retained and/or phased out, etc.

Thursday, November 1, 2007

Interesting - A former Applicance Controls president is a president of one of SPX's divisions.

Thursday, November 1, 2007

Ken Brown left Invensys IPS. Some things are inevitable but it is still sad when it really happens.

Thursday, November 1, 2007

Ken Brown left Invensys this week. It's a shame he didn't get the CEO job permanently. He is now President of a manufacturing company - parent company in Florida.

Invensys sold off APV too. Once again, this proves the old adage - the easiest way to make a small fortune is to start with a large one!

Wednesday, October 31, 2007

Despite the likely financial penalty of being kicked out of a cherished, defined benefit pension scheme, the long term survivors at APV were relatively phlegmatic about being sold to SPX. After all, rumours of the sale had been circulating for several weeks. Then it transpired that the current executive had pledged to stay. The disappointment was papable - the silver lining had been torn away leaving a very dark cloud indeed. SPX's No. 1 prioty should be to eradicate APV's (openly derided) executive management. They have fashioned a company that struggles to deliver the most basic of components (e.g. centrifugal pumps). Furthermore, they have completely misjudged the projects business (still around 40% ot turn-over), labouring under the mistaken belief that APV possesses world-beating standardised technologies. In reality, APV's successes here continue to been founded on long-term individual relationships and 'unsexy' hygienic engineering know-how. (Both of which, incidentally, reside with the demoralised people deserting the organisation in droves). SPX need to move quickly before the whole edifice implodes!

Wednesday, October 31, 2007 - Invensys press release:

Invensys sells APV to SPX Corporation for £250 million

Invensys plc announces that it has entered into an agreement to sell APV to SPX Corporation for a cash consideration of £250 million, subject to customary regulatory approvals. The disposal is being made on a “debt free/cash free” basis and completion is expected to take place by the end of December 2007.

Tuesday, October 30, 2007

If not SPX then someone is. SPX would be a strategically good move for both companies. Reading the blog, it seems APV's star performer Lance VB's departure to IPS indicates that APV North America - APV's resurgent, but now undermanaged market sits into SPX's heartland. The timing of his departure speaks volumes about Ulf's desire to keep LVB in Invensys is well known, so APV must be on the block. APV's European base and relatively stronger China business will bolster SPX's Asian capability. Looks like a good deal for all. Just pity the middle management will be dealing with another leadership change - it will interesting to see who survives at APV given the blip of last year, yet continued failure to keep up with their competition in terms of market share, poor deliveries etc. Will SPX take control of these continued operational problems?

Monday, October 29, 2007

Is SPX buying APV?

Saturday, October 20, 2007

Invensys has let go its entire Foxboro-based marketing communications department, preparatory to moving to Dallas...sounds like Foxboro is being left high and dry. Just one person is left of Invensys' Marcomm unit, and he will be leaving after the first of the year.

Saturday, October 20, 2007

Big re-organization in Invensys Systems including head cuts - anyone with insider stories? Are they really moving people from Fox to Dallas?

Wednesday, October 17, 2007

In answer to the October 2 question about life in Rockford after Invensys, it's been a "good new/bad news" story.

The good news is that the former IBS operation is no longer in an environment where we're living to refinance the debt. There's also a noticeable absence of the almost-daily e-mails about executive comings and goings. Also, the recent decision by TAC (the unit under which IBS was put) to move its systems products production from N. Andover to Rockford has meant additional manufacturing jobs in Rockford, at least temporarily.

The bad news is that after all the Schneider rhetoric about buying IBS for its extensive peripheral product offering, it turns out that TAC doesn't really want these products and is happy with a limited offering of purchased products. Current plans are to outsource the piece parts production from the Rockford plant to the cheapest vendor. Long range plans are to discontinue thousands of part numbers, import actuators and valves designed and manufactured in Italy, and eventually move zone valve production to China. The Rockford plant will become an electronics manufacturing facility.

Note: Also posted on Schneider weblog.

Sunday, October 14, 2007

In the first quarter(FY 2007/2008)report, Ulf Henriksson made a statement about removing one layer of management from Controls and a reference to separating Global markets (paraphrase).

Controls, Carol Stream (USA): the word is the CEO/Financial/Human Resources/Legal/Communications top positions have or will be eliminated by month end. Note Recent jobs ads for Invensys: VP Operation (13 plants and regional operations).VP Human Resources and Director of Sales Aftermarket.

Friday, October 12, 2007

The next 12 months will be critical for Invensys. They are about to finish all their debts obligation. They have many critical decisions to make...some of which are already made - Control without a head - that should be obvious. Eurotherm needs to turnaround this year - this must be the last chance. Keep Rail and Wonderware I supposed....Now as for Fox/Tricon/Simsci - that is the tough decision to make - seems like they are serious about putting them all together from what I hear. Will they make it in the uphill fight against ABB, Yokogawa, Emerson and Honeywell? Any news how's Infusion doing? Anyone tried it?

Friday, October 12, 2007 - re. ArchestrA/Wonderware:

I do not understand what exactly is incredible on InTouch10 and Application Server. It is old stuff based on old technology combining some recently bought MES modules. They are not using newest technology like WPF (Windows Presentation Foundation)or WWF. It is just the combination of objects (Application Server) and graphics (Intouch). And Invensys used 8 years to launch it!

If you want to see real cool stuff take a look to ICONICS Genesis64, ETM PVSSII or B&R Aprol. They are 5 years ahead!

Thursday, October 11, 2007

(found in Archives dated December 20,2006)

Unfortunately, it sounds like Controls is going to force customers to move to other suppliers and, in the end, they are going to be left with un-saleable assets. The Controls executives probably don't care, because they will have their bonus and will have moved on to other jobs with other companies. Only the hard working career employees at Robertshaw will be left to clean-up the mess as they turn off the lights....

Saturday, October 6, 2007 - Re: Invensys, Wonderware:

Well, well - it seem as if all the critics were wrong after all. System Platform and the accompanying InTouch 10 makes for good vibrations throughout the industry. We (large steel) for one are moving from competitor to ArchestrA based applications. Good stuff, I think, even if considering the multitude of different applications, SCADA, MES, etc. New modules are great.

Tuesday, October 2, 2007

Just curious if anyone working in Rockford has any feedback on being part of TAC/Schneider. I have to assume its better than how it was as part of Invensys.

Wednesday, September 19, 2007 - from a real customer:

Yesterday, I sat through the Wonderware 10.0 rollout and demo in Wisconsin. In a word – Incredible! What a positive departure Invensys Wonderware has made. But then all you user beta testers knew that a year ago! From what I can see, no other competing product comes close to this release. Can’t wait to migrate. Keep up the great work.

Monday, September 17, 2007 - Referring to the messages that complain about the changes/reorg that are happening in IPS right now.

Do we seriously think that IPS can survive by letting life can go on as it is? The EDS folks are taking a big gamble no doubt and they may not be very familiar with the control industry - but hey look where all the industry knowledge got us. Alright, alright enough cursing of Yurko...

Someone from the outside, without fear, favor, history, needs to do some major surgery on IPS. That much is clear. PA and PC have very little time - we are late by at least 3 years coming out with a new Control systems and a new Safety system. InFusion if properly done can buy us some time. Let's hope PA and PC will get it right. Just do our part.

If you think they are nuts, just leave. If you are not keen but have no where else to go - do your ethical minimum and keep quiet. Please stop all those "Foxboro knows best and no one else has a clue how to fix the problem."

Friday, September 14, 2007

It is quite entertaining to read the back-and-forth regarding sales leadership at APV. However, the bottom line is that it doesn't matter who is leading sales, who you have in the field and what GTM strategy is employed, if your offering is lacking. APV has bottom-shelf pumps (can't compete with Waukesha, Fristam, Tri-clover and will never overcome the brand preference and installed base). Their homogenizers are no longer the best in the market (poor design, poor quality, poor performance, no process expertise, too much $$ - not your father's Gaulin). Their PHE are overpriced and have something like 100 week lead times! Their valves can't compete with TC or Sudmo and very rarely get considered in projects. Spare parts are ridiculously overpriced and can be provided by pirates (same quality, less money). Plate companies outperform them on price and service levels. The OEMs and system integrators who do all the specifying on new projects seldom even consider APV. But other than that, the GTM and leadership is spot on.

Friday, September 14, 2007

It seems that author of Tues. 9/11 comments is just telling like it is - not sour grapes. I left the company right when the new leadership came on board (I knew I wouldn't want to work for that type of management) to pursue an opportunity. Now I couldn't be happier that I got out of APV when I did. I have stayed in touch with many of my former colleagues, some who have left and some who are still there. The opinion of those people are the same; the ones who have stayed tolerate the culture and questionable management styles, do their jobs and collect their pay checks. I just wanted to point out that the views of that particular person are shared by more than a few people that I've talked with. I think it's great that the new blood is excited and proud of their new APV. But in case you don't already know (I suspect that your customers have probably told you and your order book will confirm) the present APV is nothing compared to the one before the Siebe/Invensys acquisition (pre 1997). Invensys destroyed a truly great company. Your biggest challenge now is that APV no longer has the best product offerings or the best engineering and process expertise. I still serve many of the same customers that I did while with APV, and they tell me that APV is not a company they look to for solutions anymore. APV is just another vendor now.

Friday, September 14, 2007 - Regarding APV North America:

It is entertaining to read this blog about leadership at APV North America. Seems like the author of the Tuesday Sept 11 blog was an individual that did cut the grade at APV and now has sour-grapes. The reality is that APV North America has improved both the top and bottom lines over the past 24 months. One measurement that tells a story about a business is employee turn-over rates. APV NA has had less than 3% turn-over in the last 18 months. Seems to me that if the business is delivering results, and employees are not leaving - something must have been working right over there.

As far as what LVB will do at IPS - you can almost bet money that people will be departing, he won't keep non-performing team members, and he won't tolerate people acting like victims. I have worked for the guy. He is a real pain, but he is fair, and has high expectations. Be part of the solution and you can have a lot of fun; be part of the problem and he will remove you. (PS - I was NOT one of his buddies)

Friday, September 14, 2007

What will be Monday morning "announcement" throughout Controls Europe? Dark transactions on the way? Well not easy to be sure of this, anyway since the announcement of de-globalisation at Controls, it is interesting to observe that some of ‘thrown through the doors’ came back by the windows (e.g. have a look on HR). The useless matrix was translated into a useless cluster. Interesting to see that the famous Honeywell survivors will now experiment their ‘success’ at PLC level.

IPS and others: The MBA (Master in Business Annihilation) will arrive soon in your locations. The Viking Circus is on the way. For sure, after having missed target in China and implemented a disaster in Slovakia, no doubt they will surprise you guys.

So what could be the Monday teleconference stuff to Controls EMEA? We will make money through "services", not with products? No Kidding? Great deal! After having disgusted most of our customers with prices increases, designs issues, quality issues and so on, no doubt they will give us full confidence for "added-value services". The biggest hope is probably in the hands of the one in charge of the 'change management program'. Whoops, I forgot the Globally which is by the end of this sentence. What’s that? To remove unskilled friends by capable guys from the 'underground'? Or to find them another title so we can make New Things with Old Guys? The NTOG theory would be verified once more.

Question to Ulf: Aren't you tired to have mainly clowns around you? What about hiring a circus orchestra? That would make a nice complement and would make teleconferences far less sad!

Thursday, September 13, 2007 - comments on APV North America:

It seems like a large amount of sour grapes. Not everything is perfect, but it is better than 7 years ago. Much of the dead weight is gone and needed to be put aside. A certain amount of turnover in a company is a good thing, inserts new blood and ideas, APV needed it badly. Everyone wants to blame the management, but maybe they need to look at themselves.

Thursday, September 13, 2007

Invensys shifting attention towards services business; will keep controls division; Siemens rumor unlikely. Published: September 11 2007 - ft@mergermarket.com

Invensys is shifting its attention to focus on its services business, a company source said. Last year, a source familiar with the company said Invensys was reviewing its controls division, which had revenues of EUR 1.2bn. At that time, Invensys was thinking of either abandoning production in Europe and moving it to low labour cost countries or selling parts of it if offers were presented. The source said that there were already some interested players, but that no decision had been made yet.

Today, the source said, the division had shown an improvement and Invensys has reorganized it giving it a more simple structure. A sale of the division is unlikely at this stage.

The company is shifting its focus towards the services sector in order to deliver more value-added innovative engineering solutions and services with the objective of giving our customers greater efficiency and success.

Wednesday, September 12, 2007 - From a Controls employee:

A three ring circus without a ringmaster. Who is in charge? What is going on? Is this Invensys communications at its best?

Tuesday, September 11, 2007

Here's what the folks at IPS can expect from the new VP of Sales: Ulf's buddy will come in and tell you how the company can regain it's former glory, blow smoke up your backside - telling you how it is your company and your business and that you, the same people who have been working so hard and have all the expertise, etc. are the people that will turn things around. He'll pretend to listen to your opinions, concerns and thoughts regarding what has been done wrong. He will then select a few people who will bow to him and place them in roles where they will live to report internally focused numbers to him (he will require several daily calls at any hour of day or night to report hopeful figures). He will then drive out anyone who represents the "old Foxboro" regime, regardless of how much experience, expertise and market knowledge they have. He will replace long tenured employees, who have earned the salaries they command, with young, inexperienced minions (most of whom have worked for him in the past, are his friends or are related) with low salaries. IPS' offering will become a commodity - sold by route sales people who can offer no expertise or value. He will introduce an "Excellence Program" which is nothing more than what he steals from "7 Habits". There will be a culture of exclusion - if you don't make it in to his little circle you're done. The perception that this guy knows what he is doing and that his leadership turned around APV is laughable. Just watch what becomes of APV in the next year or two. APV is in for quite an experience.

Monday, September 10, 2007

The IPS HQ move to Dallas, TX. strongly reminds me of the headquarters move to Herndon, VA of a few years ago. A small number of transient top executives move or threaten to move the headquarters, they rent some space, less then 10 people move. After the inevitable next change in leadership, the "new" headquarters is abandoned. My guess is less then 3 years as Dallas makes no sense for IPS on any level.

Saturday, September 8, 2007

To think that Sir Lancelot Vandenbrook (Managing Director, APV Americas) will turn around IPS with his "sky rockets in flight, customer delight" model is a joke. The APV "turn around", is a farce - increased orders doesn't necessarily equal increased profits, and APV is still struggling. The changes at APV to an increase in APV sales force was not even Lance's idea. Adding a bunch of young, inexperienced sales people to IPS will not turn things around.

Wednesday, September 5, 2007

The APV NA Sales Director who made the APV NA USA turn-around successful is being sent to Dallas to rework the IPS Sales Force. This is a move to apply successful models to a group that needs to be energized. This move seems to be very positive for IPS.

Tuesday, September 4, 2007

Wonderware has also hired key talent from Rockwell Software recently, and is quietly building a very strong and experienced team.

Monday, September 03, 2007 - from an Invensys employee:

The current regime at Invensys was brought in from EDS, from outside the industry. It's the best "straight talk" I have heard in my 12 years here. I think they are doing the right thing, breaking down the old "Foxboro vs. them" barriers, and moving the center of power from Foxboro to Dallas - which is closer to the customer and of course, closer to the homes of the EDS executives. I think its a smart move.

Sunday, September 2, 2007 - from ex-employee (and now a customer):

So, let me get this straight. IPS is moving HQ to Dallas. I could almost, almost understand if they had moved HQ to Houston where there is arguably a strong IPS presence. But Dallas ???

Well, perhaps this is just being cynical, and perhaps there are objective and strategic reasons, such as this - Paulett Eberhart owns property in Plano, TX - near Dallas (Click link):

Paulett Eberhart, Property Information, Plano, TX.

In the meantime, competitors are forging ahead....wireless transmitters (Emerson, Honeywell), strategic acquisitions (Honeywell buying Enraf)

You know the saddest part: The technology under the IPS umbrella is truly outstanding. I/A is one of the best DCS systems out there, miles ahead of competing products such as Experion & DeltaV (and believe me, I've worked with all of these). Other IPS products such as Tricon, ROMeo are all in a league of their own.

And in the meantime, these management clowns are hell bent on grinding it to the floor.

Sunday, September 2, 2007

The decision by Paulett Eberhart to relocate to Dallas just shows how irrelevant she and those who came before are to the core Foxboro operation. Foxboro soldiers on, while the megalomaniacs come and go.

Sunday, September 2, 2007

Paulett Eberhart has announced the relocation of the IPS headoffice to Dallas, Texas - after "detailed analysis". I expect that the analysis is limited to the distance between her own house and a major city. This decision only indicate that she wants to reduce the costs in the current headoffice of IPS in Foxboro, since Ulf will never allow costs increase.

This despite the statements that "Foxboro remains the centre for development and production". Strange statement while the actual production is partly already in China and Mexico, and the development is partly outsourced to India.

It would show true leadership if management would communicate what they realy think.

Saturday, September 1, 2007

Invensys has announced that Sudipta Bhattacharya has been appointed as the Invensys chief software solutions officer reporting to Mike Bradley Sr., president of Wonderware. Bhattacharya will be responsible for driving strategy and growing the Invensys and Wonderware software solutions business. Previously, Bhattacharya served as senior vice president of solutions management for supply chain, manufacturing and product lifecycle applications at SAP America, Inc.

Friday, August 24, 2007

Seems like more than a couple of APV sales people are jumping ship and seeking greener pastures with the competition. Who could blame them - they continue to lose orders and are feeling the void of any process or product expertise. Management just continues the beatings. Who needs it. I guess some just want to know what it feels like to be paid a bonus that they've earned...

Monday, August 20, 2007

Wonderware Appoints Rick Bullotta Vice President and Chief Technical Officer

Wonderware today announced that industry veteran and innovator Rick Bullotta has been appointed vice president and chief technology officer of Wonderware. Bullotta will report to Mike Bradley Sr., president of Wonderware.

Tuesday, August 14, 2007 - Re: APV - Center of Excellence:

APV is opening a small office in Chicago to support the "Americas" business. Office will have approximately 20 employees (Marketing, Human Resources, some Finance, and Sales Team Memebers). The Buffalo business will remain.

Saturday, August 11, 2007 - Re: APV-USA:

Word on the street is that "Center of Excellence" is being relocated again; from upstate New York to the Windy City. This would be a reversal from 2004 when Chicago HQ was closed. It makes sense for an independent operation; but what about the engineers that are left? Does anyone have confirmation of the news?

Wednesday, August 8, 2007

Look out below! Giving it all back - how low will it go before Ulf must sell something off. APV could be on the block - may as well get what you can for it now because performance is lagging.

Monday, August 6, 2007

The recent stock price runup was apparently due to expectations of better financials than those just announced for Q1 and not the Siemens rumor. Process Systems profit was the weak spot. Nothing a good layoff can't fix.

Friday, July 27, 2007

Did anyone notice what little information our new 401K statements give out. What date did the fund pay out the dividend? What date were our new shares bought? At what price? The Ameriprise statements were a lot more informatitive!

Monday, July 23, 2007

APV - The new sales force seems to be doing well, but expectations from management are very high. Sales people need time, (and product) to get things going. As a customer, I hope they give the new people time,(and stock products). We have seen changes, and the new sales people will be tested before they gain our confidence. If Invensys "pulls the plug" on APV this time; our patience with this supplier will be severely strained.

Wednesday, July 11, 2007

Chan Galbato resigned? Wishful thinking. Though that would be a happy day. Expect that he will leave soon enough as he is fast approaching 2 years and can not squeeze another profitable year out of this mess. He will claim victory and move on to his next job.

Wednesday, July 11, 2007

I heard today that Chan Galbato resigned. Can this be confirmed?

Monday, July 2, 2007

Invensys Completes Cimnet Acquisition on Schedule and Will Integrate Acquisition into Its Wonderware Business Unit

Wonderware is Integrating Cimnet MES Technology, Using Invensys’ ArchestrA Industrial SOA, to Accelerate MES Software & Solutions across Invensys Units

Invensys today announced that it has completed the acquisition of Cimnet, a Manufacturing Execution System ("MES") software company based in Pennsylvania, USA, and this acquisition is now being fully integrated into the Wonderware software business unit of Invensys. The acquisition has closed under the terms of the original agreement that was announced on May 3, 2007.

Saturday, June 30, 2007

As a (soon to be) ex-Honeywell customer, I find the talk of Siemens buying Invensys of particular interest. In the past I have enjoyed a good level of support from Honeywell. But, Honeywell is now actively outsourcing much of it's development and support to low cost countries; support has (already) become slow and unreliable. If I can get back the same level of support (in the EU) by jumping to Siemens/Invensys I'll make that jump without a second thought.

Tuesday, June 26, 2007 - from APV customer (United States):

I will point out that the APV organization is doing a great job for my business. My local salesperson is at my site on a regular basis and is always keeping me informed of what is happening in the marketplace. The competitors to APV could learn some lessons from them. Based on what I see, it appears my salesperson is getting compensated, he has been with APV for 2 years now and seems happy to work in this organization. Bottom line: If you like what APV is doing you buy from them; if you don't like them, you will source from a competitor.

Friday, June 22, 2007 - What Siemens would do with Invensys:

1. Westinghouse rail are one of Siemens main competitors in the rail signaling business and very profitable with a full product range
2. Foxboro DCS and related software products and vast installed base in the petro chemical industry
3. Foxboros excellent instruments including the best mass meter on the market
4. APV would get them into the food/ dairy/ beverage industry which could lead to complete turnkey solutions with their combined products and access to a large installed base
5. APVs heat exchanger business
6. Controls ????

Friday, June 22, 2007

Any truth to the Siemens news of buying Invensys? What in the world would they do with them?

Friday, June 22, 2007 - Back from the dead:

BTR back in the Footsie? Don't laugh. Invensys, as the conglomerate became after it was shoved together with the similarly-ailing Siebe, is back from the brink of death to the brink of the FTSE 100. Its market value is now £3bn.

There's not much there that's recognisable from the good old days of BTR - just Westinghouse, the one star within the disastrous 1991 acquisition of Hawker Siddeley. Shareholders who bought at the top have still lost nine-tenths of their money. Those who bought at the bottom - two years ago - have a fourfold return, showing once again that there is no substitute for good management. What a shame it came 15 years after it was needed. (Guardian 22-06-07)

Wednesday, June 20, 2007

APV Sales Force: As a customer, I do not dismmiss the new APV sales people, they are "trying" and they may prove to be a proper addition. I do recall when APV had engineers or local "very experienced" people to call on us; but those days are past for most suppliers. Price, Performance and "above all" Timely Delivery; are the keys to the product selection process we employ. It would also not hurt APV to find a way to get involved in the small project business. At this point, the biggest issue for APV with us is "Timely Delivery". I do not understand their issues, but the sales people are the least of APV's equipment sales problem. I just could not get timely delivery of their pumps and valves to keep them involved for the last project.

I hope their sales are picking-up like the previous email stated, maybe that is why delivery was an issue. All suppliers have issues, I think the new sales people need some time to help move improvements along.

Tuesday, June 19, 2007

Here's what this morning's UK Telegraph had to say:

"Renewed takeover speculation, combined with some bullish broker notes, saw Invensys feature as one of the main risers in the FTSE 250.

"The engineering and business services group was boosted by talk that it could be a target for Siemens at around 500p a share. Furthermore, Credit Suisse lifted its target price on Invensys from 330p to 390p following last month's results and an investor day last Friday. Evolution agreed that "a strong series of presentations by Invensys further enhanced our confidence" and argued: "The true potential of Invensys is still woefully misrepresented in the current share price." It lifted its target price by 30 to 430p. Shortly before the market closed, a director dealt in the stock, an indication that Invensys, up 7¾ to 382¾p, is not in bid talks."

Sunday, June 17, 2007

Let's see, some new APV direct sales people come from Kinkos or Staples, while others only have experience in the label industry. APV customers find value in sales people who not only know the products and processes but are experts. The direct sales force is young and inexperienced - they don't know jack about the products they sell and even less about the processes of their customers. Striving to (or saying that you will) delight your customers is one thing, actually delighting them is quite another. Go ask the market place; start with Dean Foods and Heinz - two key customers who have recently signed agreements to have companies other than APV supply their equipment. The direct sales force is too green to know that they will not make their numbers because customers will buy from others on price, performance and expertise. You will either leave because you are making no money (APV doesn't pay their bonuses anyway) or you will be culled out because you don't hit your numbers.

Friday, June 8, 2007

Regarding the comments about APV direct-sales organization being young inexperienced and not adding value. Whoever wrote this has no clue who these individuals are, and is definitely not a customer to any of these individuals.

People don't generate significant double digit growth by not adding value. Go talk to the marketplace, customers are placing orders with APV because we meet our commitments. We do what we say we are going to do. Delighting Our Customers is what we do, our customers reward us with more business, that doesn't happen with inexperienced non-value-added salespeople.

Wednesday, May 30, 2007

Invensys stock has more than doubled in the last year from 164p to 390p. The stock price has jumped on positive earnings news. It has been on the rise since mid March. Looking at the historical price data for this stock, I noticed that on March 23, 2007 there was a single day spike in trading volume of over 10 times the daily average. On that day over 100 million shares changed ownership at a price of 293p, that is over 300 million pounds. The market cap of ISYS.L was then about 2.34 billion Pounds. Thus about 12.5% of Invensys changed ownership that day alone. This was the highest single day volume by a lot in a long time. There are only a few options in my mind:

1. Invensys is being acquired through the front door (i.e. on the open market).
2. A prospective buyer has been given a carrot (i.e. the company shared it financial information with a prospective buyer and that entity took advantage of that).
3. This is simply insider trading (seems too stupid and beyond the reach of a single insider).
4. This was just within the normal trading pattern for Invensys just before the close of a physical year (i.e. honest big time speculation).
5. A whole bunch of lucky Invensys stock watchers got the same idea at the same time (very hard to believe).

Tuesday, May 22, 2007

APV has indeed added many direct sales people. They are mostly young, unexperienced and low salaried spare parts order chasers. They have little or no experience or expertise in the products, processes, technologies or customers businesses. They are simply providing an APV presence with very little value add. Furthermore, they compete with their own sales channels and give away margin to get orders. The days of APV having the best people, product and process expertise are long gone. They can continue capturing the lucrative spares business for the existing installed base of equipment, if the direct flunkies can wrestle it from the pirates, who have been eating their lunch. However, without new equipment and project sales, the parts business will eventually dry up. Look for further positioning and window dressing before Invensys unloads APV. They couldn't get the right price a few years back when a deal was in the works with SPX. So people like their new leader were brought in to get the biz in shape for more lucrative sales.

Thursday, May 3, 2007

Invensys/Wonderware adding to the stable instead of selling off. Sounds like they're in it for the long haul.

Invensys Agrees to Acquire CIMNET (Extract from Nasdaq website)
Invensys Systems, Inc., a subsidiary of Invensys, and CIMNET, Inc. announced today that they have signed a definitive agreement to merge CIMNET into Invensys in an all-cash transaction. Invensys is offering to purchase CIMNET for $2.43 per share, valuing the transaction at approximately $23.2 million plus the assumption of existing debt.

Thursday, April 26, 2007

APV has added multiple direct sales channels to APV NA, spreading the idea of synergy to a potential bidder. Also, APV has avoided the "losing" Project Business and has focussed on the profitable parts and equipment business. Expansion of product sales has declined, due to lower project sales, but the component business has not yet felt the totality of the pain. APV has returned their email address from Invensys to APV. No investment in new products, but great focus on the profitable aspects of the business. The management has done a great job in positioning APV for the "unloading dock" of Invensys dept.

Mission Acomplished - Invensys should unload another unit soon.

Thursday, April 26, 2007 - 4/26/07 post on reason for share price inrease:

Extract from 04/26/2007 07:25:15 PM EDT - DAILY MAIL
Factory controls group Invensys jumped 2014p to 31612p on a revival of the ancient rumour that Germany's Siemens is to launch a cash offer. Analysts again pooh-poohed that idea and said investors were taking a bullish view ahead of next month's results.

Thursday, April 26, 2007

The Invensys share price jumped 20p yesterday and was up a further 8.5p this morning - nearly 30p or 10% in less than two days? UK press thus far has only said "bid rumours" and "private equity interest".

Saturday, April 14, 2007

Chalk and cheese, that's what it is. Guys talk it up at Foxboro and APV all you want, its the same globally, I left 18 months ago for another major DCS solution provider that wins work. The recipe is simple, there's a lot to be said for management support, something that I now get, a lot to be said about empowerment, something I now get, a lot to be said about pay rises and bonuses, something I now get, throw in camaraderie, regular bbq's and Friday arvo beer o'clock and you'll start to understand you are missing something in your life as an engineer and its passing you by. Wake up before its too late, so you can start enjoying what you do best.

Saturday, April 7, 2007

I am a new employee to APV (Oct 05) and I am amazed at the negativity of this blog. I am happy I work at APV, we have a young team that wants to win and leadership that listens. We are accountable for our actions and our results. I work in North America and our business leader is very clear about expectations of the organization. Stop complaining and help solve our customers problems or find some other place to work. When I first arrived there were a number of employees that complained about all the changes. They have all left the organization in the last year and APV North America is a good place to be. We haven't heard what our final results are for the fiscal year, but we know it has been a record year for us. From what I can read on this blog, if you aren't happy at Invensys, maybe you should consider other employment alternatives.

Friday, March 30, 2007

Having recently joined the company (Nov. 2005), I feel it is my duty to post on here in response to the previous log.

I have enjoyed nothing but the best in benefits, mentoring, freedom to be creative, and opportunities. The company is undertaking a major movement to improve its on-boarding processes and even has a volunteer group that supports new hires. There is an air of excitement within the company. Maybe it's just me, but things seem to be looking up, way up. We are growing market share, we are hiring on a large scale, and we are releasing arguably the most exciting product to enter our industry in the last 20 years.

Be positive! Be excited! If you are discouraged, take a look around and make sure it isn't your mindset holding you back, find someone who seems happy and ask them why. Foxboro is making a come-back and I have every intention of being here when our wave crests.

Thursday, March 29, 2007 - regarding previous negative post:

Yes. That's correct - this is just one exiting employee. A relatively recent employee, and one of four relatively recent employees in the past 6 months that have left M&I after a short stay. Believe what you want, but the retention time of new employees is poor. That speaks for itself. I understand that some have to convince themselves that its not because Foxboro is a bad place to work but rather, it must be that the "new" people that come in that can't adapt. OK, what ever keeps them going. The inevitable still looms.

Wednesday, March 28, 2007 - Re. March 28 post on Foxboro:

I'm surprised to hear that there is still a high level of negativity. My impression, based on a few people I still talk to at Foxboro, was that things were much better. Business was good and the management had become more humane. Perhaps this was just one exiting employee?

Wednesday, March 28, 2007

I work for Foxboro and can relate to many of the weblogs I have read. There is negativity because this company is a wreck. I mean, let's face it - when the beast is going down, there is not alot of positive thoughts that will surface (no pun intended). I am happy to say that you can make a positive move though. I have. I am leaving Foxboro shortly, and am going to work for a prosperous company. My message is: when working at a company like Foxboro, you have choices. You can stay or you can leave. In spite of what many people at Foxboro believe, there is a better life beyond. I feel sorry for the people who have been here a long time and refuse to believe that...

Wednesday, March 21, 2007 - re: Invensys Controls on a collision course.

I read with some sense of amusement the blogs referencing Invensys Controls. If they only knew how right they are!

Invensys Controls was formed by pushing Appliance and Climate Controls together at the end of 2004, following unsuccessful business disposal attempts. Each had problems which were common and of their own making. The formation was purely a cost play, expecting to capitalize on non-existent synergies. As anybody with any knowledge of business combinations will tell you, mergers are tricky, cultures are important, and political jockying is a poison pill (it is clearly apparant none of the leadership had sucessfully integrated acquired companies).

Ulf, correctly sensing a lack of leadership in the group, brought in minions from Honeywell who surely could turn things around, (mainly because they had worked for Honeywell and or Allied Signal; funny how all outsiders are considered better than insiders, though Honeywell/Allied was a disaster and they are just recovering).

However, these guys were extraordinarily political and, being hand picked by Ulf to lead the world, went about alienating just about everybody they could find. At this point there is practically nobody left that knows the business (warts and all) and the new leadership is simply painting by the numbers (and as noted by several writers simply waiting for the bonus payday to jump ship). Ulf's hand picked successor seldom shows up at the office, let alone at customers locations, or God forbid plants. Controls is at heart a manufacturer of OEM mechanical, electromechanical, and electronic controls. It is a shame to see such potential (speaking of the business, not the leadership) go down the drain, but that's where it going. The new manager's claim to fame will be that he has reached a level of stability (still 25% lower than when he was given the business) and surely he will speak highly of how he refocused the business to think solely of the customer.

It is now likely that we will see a sad end for Controls. The only hope for the business is a sale. The customers are very uneasy - as they should be. The business hasn't reached the bottom yet; it's only treading water until the next wave. The good people who work in the business should be sainted for putting up with the incompetence, but they will likely pay the real price for the lack of leadership. It has taken many years and regimes to get to this point, but current leadership has only aggravated the situation.

I am sad for the future, but I will stick it out. Who knows maybe I can capitalized on this disaster; maybe write a book similar to "barabarian as the gate", or I can call it "Idiots at the revolving door". Of course, I can only do that if I see the final chapter.....

Wednesday, February 7, 2007

TAC have bought a dog in IBS (InvensysBuildingSystems). I have a long history with this company from the Robertshaw days (1986) right up to being sold like a cow to TAC (2007). I have watched this companies excellent engineering products they acquired from Robertshaw/BarberColeman be replaced with rubbish. The main reason we could not win any jobs is the I/A series controllers are so engineering resource hungry. Our customers hated them and the way it was integrated by Niagara. If we dont sell controls IBS doesn't make any money.

The fundamental problem here is the products, no development whatsoever for years and they don't have their own front end. They dumped a lot of loyal Bobshaw and BC customers by discontinuing both product lines. These people used to spend MILLIONS of dollars with us. It all dried up in 2 years. On top of that the front end (Tridium Niagara) is now owned by Honeywell. So what did TAC buy? Some factories that make valves and actuators? I hope TAC have a plan to revitalize this part of the acquisition, unless they only bought IBS for their valves and actuators. More job losses to come?? Is this the last chapter or will these factories (and employees) be sold again??

Friday, January 26, 2007

Like many others at IPS, I am saddened to see the talented and respected KB dumped in favor of a bean counter from outside the industry. But I’m not surprised. This move is consistent with my perception that counting beans is all that really matters at Invensys.

Perhaps Ms. Eberhart will polish the company (by rubbing out employees), but past experience suggests to me that a sale is doubtful. I think instead that we’re merely in for yet another round of fiscal smoke and mirrors. (sigh)

Tuesday, January 24, 2007

Extract from JimPinto.com eNews No. 224, 24 January 2007:

Invensys leadership changes

Ken Brown, who had been in the position since the sudden exit of Mike Caliel about a half-year ago, was supposedly one of 3 internal candidates vying for the job and he was unaccountably bypassed. Foxboro loyalists are clearly disappointed, and are wondering what changes this new chief will bring.

With a long background in EDS (computer services), Ms. Eberhart (52) has more of a financial background, with no experience whatsoever in the industrial automation and process controls business. Seems like yet another deja vu experience for fatigued Foxboro.

After being left to manage a too-heavy debt-burden, Ulf has put Invensys on a somewhat reasonable financial footing again. My guess is that he is preparing for his own graceful exit by selling off Invensys for more than its current market value - still a mediocre GBP 2.4B ($4.7B), about 1:1 with annual revenue. Keeping Ken Brown in the role of President would have meant that the objective was to complete the hard-slog of returning to stability. Bringing in an outside bean-counter can only mean polishing the business to prepare for a sell-off.

Another move, more sensible and long overdue, was the exit of Peter Tompkins as President of Eurotherm. He was replaced by Jeff Green who was VP of Manufacturing at Process Systems and previously with Flowserve Pumps. Eurotherm is still handled separately within the group, probably because it has only legacy temperature control widget products and is worth more as a divestiture.

Whoever buys Invensys will be buying it for Foxboro (installed customer-base and market presence), Wonderware (Archestra), Triconex and other good parts of Process Systems. Any likely buyer will simply sell off Rail Systems, Eurotherm and other non-related business for whatever they can fetch.

For an acquisition of this size, the only possible buyers are large, overlapping competitors: Siemens & Schneider (who need more process control); Honeywell (unlikely, because they're a direct competitor, and Process Systems is itself just a segment); Emerson (possible, though unlikely, because they're a direct competitor and don't need Foxboro); GE (unlikely, because Jeff Immelt is off buying other more juicy businesses); Yokogawa or Omron (unlikely, because the Japanese don't know how to accomplish acquisitions of this size). Who else? Your guess is as good as mine.

JimPinto.com eNews # 224 - 24 Jan. 2007

Walt Boyes' blog - Ulf torpedoes Ken Brown:

Sunday, January 7, 2007

Referring to an old weblog (Monday, April 24, 2006) on use of vulgar language:

Remember these comments? The problem has been solved; there is now an automatic closer on the door into the office area, so the F-words don't get out. Yet in meeting after meeting, including meetings with mixed company, the F-words are still flying as fast and as furious as ever. The same person is still doing, it and HR is still blind and deaf to all this - they allow this to continue.