Formed 10 years ago by the union of two UK engineering conglomerates, Siebe and BTR, automation and controls group Invensys has been in and out of the FTSE 100 ever since. Promoted to the list of Britain’s 100 biggest companies again last September after a five-year absence, the company came close to collapse a few years ago after its purchase of Baan, a Dutch company that was once Europe’s second-largest software provider but which ultimately went bust.
