UB-based engineering firm Invensys is to sell its rail division to Siemens for £1.7bn, expanding the German firm’s rail division.
Invensys, headquartered in London, said a strategic review had highlighted a likely consolidation in the global rail signalling market and that the sale would create a more focused industrial software business.
Siemens said the purchase of “a leading rail signalling company would expand our presence in the growing rail automation market”.The...
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