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INVENSYS HANSEN TRANSMISSIONS INVESTS €75 MILLION OVER FOUR YEARS TO CAPITALISE ON RECORD GROWTH
02 April 2002 - Invensys plc
| Invensys today announced that Hansen Transmissions, part of its Development Division, has invested €75 million for the construction of a new factory in Lommel, Belgium. Hansen Transmissions, a leading manufacturer of hi-tech gears, will produce state-of-the-art drive systems for large wind turbines in the new factory. |
The investment in the new factory is a response to a big rise in demand from existing customers and the fact that Hansen's existing factory in Edegem has reached its capacity limits. The wind power market is expected to grow at a rate of 25% per annum over the next 5 years (BTM Control ApS - March 2001). Hansen Transmissions last year had a record high turnover of €95 million, and its customer base represents 50% of the world market. 'As we said in our strategy review, the businesses in Invensys' Development Division - including Wind Power (Hansen) - enjoy strong positions in markets with high-growth potential. They represent substantial options for our shareholders through their standalone strategies and will benefit from our support and investment. The Hansen investment is a great opportunity for Invensys to exploit a growth market, and maximise sales returns,' said Invensys Chief Executive Rick Haythornthwaite.
The Lommel factory will manufacture, assemble and test gear units for large wind turbines. The Hansen drives transform the relative slow rotations into a much higher speed to produce electricity. About Hansen Transmissions
Hansen Transmissions is a world leader in the production of innovative and durable drive systems for a broad range of applications in industries that require low noise levels, minimum weight and high reliability (e.g. wind turbines, water treatment, material handling, etc). Hansen Transmissions employees 530 people in Belgium and booked a turnover result of ?95 million in 2001, its highest ever.
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About: Invensys plc
Invensys is a global automation, controls and process solutions Group. We empower you to increase productivity, reduce waste, remove cost from your supply chain, boost profitability and demonstrate measurable improvement in your company's overall performance.
As a global leader in resource productivity, Invensys offers products and services, expertise, and technologies that enable you to maximize return on investments, conserve resources and optimize performance across your value chain.Operating in more than 60 countries worldwide, Invensys meets the needs of the process and batch industries - from oil & gas, powerand utilities, chemicals, and rail systems to food & beverage, healthcare, and data communications - as well as the discrete and hybrid manufacturing sectors, and provides components, systems and services to the heating management, commercial refrigeration, residential safety and automotive industries, and electronic and electro-mechanical systems and components to appliance and related industries. Not only do we help improve your bottom line, by enabling you to manage your assets more efficiently, but we also help you to protect the environment. As the result of our efforts, we have been awarded the prestigious Energy Star Label by the United States Environmental Protection Agency (EPA). Taking an integrated strategic approach to increasing your productivity, we enable you to increase output from your existing plants and technology investments, provide you with solutions that create more efficiencies in your supply chain, and increase performance at every level. From the production line to executive offices, from customer relationship and procurement management to distribution logistics, we can help you improve productivity, optimize performance, and increase profitability. |
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