IMI plc


IMI plc

Infobox_Company
company_name = IMI plc
company_
company_type = Public (LSE|IMI)
company_slogan =
foundation = 1862
location = Birmingham, UK
key_people = Norman Askew Chairman
Martin Lamb CEO
num_employees = 15,102 (2007)
revenue = £1,599.0 million (2007)
operating_income=£171.7 million (2007)
net_income = £119.9 million (2007)
industry = Engineering
products =
homepage = [http://www.imi.plc.uk 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.

History

The Company was founded by Scottish entrepreneur George Kynoch who opened a percussion cap factory in Witton, Birmingham in 1862. [http://www.imi.plc.uk/aboutus/companyhistory.asp IMI History] ] 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. After World War I it merged with Nobel Industries. In 1926 the Company acquired Eley Brothers, an ammunition business. [ [http://www.eley.co.uk/about-eley.aspx Eley: About us] ] The Company, by then known as "Nobel Explosives", was one of the four businesses which merged in 1927 to create Imperial Chemical Industries. The Witton site became the head office of ICI Metals. In the 1950s the company's researchers perfected the process for producing titanium on a commercial basis.

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

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

Operations

The Company now has five divisions: [ [http://www.imi.plc.uk/aboutus/default.asp IMI: About us] ]
*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

* [http://www.imi.plc.uk/default.asp Official site]
* [http://uk.finance.yahoo.com/q/pr?s=IMI.L Yahoo profile]
* [http://www.staffshomeguard.co.uk/KOtherInformationKynoch.htm An Unofficial History of Kynoch Works]


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