Solid Order Gains At Siebe's Intelligent Automation Division
20 October 1998
Solid Order Gains At Siebe's Intelligent Automation Division
WINDSOR, England--October 19, 1998--Siebe Intelligent Automation, a division of United Kingdom based SIEBE plc, today announced at the International Society for Measurement and Control (ISA) Show in Houston that its consistent growth record continues as contracts valued at over (pound)130 million were received during the six month period to September 30, 1998 across all of the Division's operating businesses. Order rates showed solid gains, despite the pressures of a weak oil and gas market and difficult economic conditions in Russia and the Far East. In addition, it is clear that the market is beginning to yield significant Year 2000 compliance business as customers review their Y2K options.
Significant within these orders was a world source agreement with the Eastman Kodak Company. This multi-million dollar contract, which is spread over several years, will provide Kodak with a broad range of products and services, including I/A Series systems, advanced automation software, building automation systems, and applications engineering, together with performance and support services.
Dr. George Sarney, Siebe Intelligent Automation President and Chief Operating Officer said:
"For the first time, the total capability of the Division's newly acquired businesses; Wonderware, Simulation Sciences and Eurotherm, were integrated with the market leadership of Foxboro and Siebe Intelligent Building Systems to forge a global partnership with a prominent customer - namely Eastman Kodak."
Despite the impact of lower prices in the oil and gas market, Foxboro won a number of significant international orders, including a further expansion to the Reliance/Jamnagar petrochemical plant in India, the Eastern Petrochemical Company (SHARQ) complex in Saudi Arabia, the SINCOR upgrader project in Venezuela, work for BASF in Germany, and additional contracts in France, Malaysia and Brunei. Foxboro also reinforced its position in the mining industry with a contract for the Century Zinc Mine in Australia. In the food and beverage sector, APV continued to win major contracts including Scandinavia's largest cheese plant in Denmark, dairy projects in Argentina, Algeria and Turkey, a food processing plant in Ireland and a bottling plant in Japan.
In the utility market, the Division's growth continued as Foxboro won a contract from the Detroit Edison Company to provide an integrated process computer system for its Fermi Power Station. Other significant utility contracts were received from the Georgia Power Company and the Saudi Consolidated Electric Company (SCECO). In addition, Siebe Intelligent Building Systems' order rates accelerated as the company won projects from Marriott in Chile, the United States Army and Motorola.
Siebe is one of Britain's largest electronics and engineering groups, incorporating 200 companies worldwide and employing over 55,000 people. The Group designs and manufactures process automation and building control systems, a broad range of controls for automotive, appliance and residential applications, electronic power controls and engineered factory automation equipment. The Group generated a profit before tax of (pound)486.4 million on a turnover of (pound)3,670.2 million for the year ended April 4, 1998, up 14.7% and 22.1% respectively on the prior financial year.