Invensys Divests Stake in Process NMR

Haifa, Israeil; West Sussex, UK -Invensys Systems has divested its majority share in Foxboro NMR, a maker of process NMR systems, to co-owners Teuza Technology Venture Fund, a Fairchild Technology Venture, and Elbit. Under a long-term distribution agreement, Invensys will continue to distribute Foxboro NMR products as part of a turnkey solution for hybrocarbon processing. Invensys will also continue to provide support to current customers. Teuza also plans to transition the company to a new name later this year. “This transaction will allow a strengthened Foxboro NMR organization to expand its activities and business into additional markets with significant potential, including biotech and pharmaceuticals, chemicals, and food and beverage, ” said Teuza President and CEO Avi Kerbs. Invensys has focused Foxboro NMR sales on the refining and petrochemicals industries. Under the sales agreement, the Foxboro debts owned to Invensys will be restructured.

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