Invensys Sells Fasco Motors Dec 3, 2002

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Invensys plc, an international production technology and energy management Group, announced that it has agreed to sell its Fasco Motors business to Tecumseh Products Company for a cash consideration of U.S. $415 million. The proceeds of the sale of the Eaton Rapids, MI, U.S. fractional horsepower motors manufacturer will be used by Invensys to continue to reduce its level of indebtedness. When this sale has completed, Invensys will have generated proceeds of more than 1.8 billion GBP ($2.8 billion) from its disposal program, 4 months ahead of schedule.

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