Good news may quash some Invensys rumors

An article published in the Attleboro, Mass., Sun-Chronicle Online for 3/18/2009 says: "A reinvigorated nuclear power industry, long stagnant in the United States, is expected to provide a major lift to Texas-based Invensys Process Systems and bring additional jobs to the company's plant in Foxboro, corporate officials say."

Although the article is very careful to say that IPS won't be bringing nuclear materials into Foxboro, it goes on to say, "IPS, which recently won a $250 million contract to supply automation for two Chinese nuclear power plants, will manage the delivery of its technology from its Foxboro manufacturing complex and could hire up to 100 additional engineers and managers to support a new 'center for nuclear excellence.'"

We have heard rumors for years that IPS no longer considers Foxboro a core business, and that was the reason for the corporate move to the Dallas area in the last two years. According to the article, unnamed IPS executives commented on this.

"Some IPS executives, who accompanied reporters on a tour of the Foxboro plant's four buildings last week, said they were aware of rumors that the company might close or downsize its existing operations, and said they hoped the latest news would underline the company's commitment to Foxboro."

Read the whole article here.