British Siebe and BTR to Merge

Siebe Plc and BTR Plc have announced that they will merge, resulting in an international engineering giant with a market value of more than $16.6 billion and global leadership in the controls and automation industry.

The newly formed company will initially be named BTR Siebe, pending a decision on a new name.

Siebe's main capital goods markets in the United States and Europe are in industrial automation and food processing systems and control products for automotive, consumer appliances and heating and ventilation industries.

"This merger will create the leading controls and automation group in the world, better able to deliver total solutions to our customers," said Siebe chairman Lord Marshall in a statement.