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IMI plc
Type Public (LSE: IMI)
Founded 1862
Headquarters Birmingham, UK
Key people Norman Askew Chairman
Martin Lamb CEO
Industry Engineering
Revenue £1,901.0 million (2008)
Operating income £209.8 million (2008)
Net income £116.0 million (2008)
Employees 15,102 (2007)
Website www.imi.plc.uk

IMI plc (LSE: IMI), formerly Imperial Metal Industries, is a British based engineering company headquartered in Birmingham. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Contents

History

The Company was founded by Scottish entrepreneur George Kynoch who opened a percussion cap factory in Witton, Birmingham in 1862, trading as Kynoch.[1] The business soon diversified, manufacturing goods ranging from soap and bicycle components to non-ferrous metals, but by the early 20th century it had developed particular expertise in metallurgy.[1] After World War I it merged with Nobel Industries.[1] In 1926 the Company acquired Eley Brothers, an ammunition business.[2] The Company, by then known as Nobel Explosives, was one of the four businesses which merged in 1927 to create Imperial Chemical Industries.[1] The Witton site became the head office of ICI Metals.[1] In the 1950s the company's researchers perfected the process for producing titanium on a commercial basis.[1]

The name Imperial Metal Industries Limited (IMI for short) was adopted on the 100th anniversary of the firm in 1962.[1] The Company was listed on the London Stock Exchange in 1966.[1] Initially ICI retained a majority holding, but in 1978 IMI became fully independent.[1]

In the 1990s the Company disposed of its more basic businesses such as metal smelting and metal founding.[1]

Operations

The Company now has five divisions:[3]

  • Severe service: control valves for environments such as power plants and oil and gas production facilities.
  • Fluid power: customised motion and fluid controls for manufacturing processes.
  • Indoor climate: building climate and energy management equipment.
  • Beverage dispense: beverage cooling equipment for caterers and retailers.
  • Merchandising systems: point of purchase display systems.

References

External links

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