Automation technology provider Invensys plc today issued an interim report revealing uneven performance across its business lines in the fiscal third quarter ended Dec. 31, 2009.
The Invensys Operations Management (IOM) division, which comprises the Invensys Process Systems, Wonderware, and Eurotherm businesses, demonstrated the best performance in the quarter as a result of the successful conversion of order backlog and the implementation of internal cost-cutting programs, the company said. However, Invensys did not reveal specific numbers for any of the divisions, as it reports full results only at six-month intervals.
IOM, established last June, was created to closely align the products and services available across the three constituent businesses. To showcase that collaborative approach, the company today unveiled its new IOM website, providing information on product offerings and services for specific industries, along with customer case studies and information on ecosystem partners.
Invensys’ Controls division, which manufactures heating, cooling, and refrigeration components, started to stabilize in the third quarter, the company said, improving its profitability over the same period last year with the help of new demand in North America and Europe. Last year’s financial statement indicated that the Controls group was experiencing deterioration in global demand as many customers reduced their production and inventory levels, a situation exacerbated by extended customer plant closures in December 2008.