|Traded as||LSE: IMI
|Key people||Roberto Quarta (Chairman)
Martin Lamb (CEO)
|Revenue||£2,192 million (2012)|
|Operating income||£373.0 million (2012)|
|Net income||£233.7 million (2012)|
IMI plc (LSE: IMI), formerly Imperial Metal Industries, is a British based engineering company headquartered in Birmingham, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
The Company was founded by Scottish entrepreneur George Kynoch who opened a percussion cap factory in Witton, West Midlands in 1862, trading as Kynoch. 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. 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.
The current Chief Executive is Martin Lamb, who has been Chief Executive of IMI plc since January 2001, and a Director since 1996, having joined the company in 1985. He has been a Non-Executive Director of water company, Severn Trent plc since February 2008. Lamb holds and has held many directorships. Lamb succeeded Gary Allen.
The Company now has five divisions:
- 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.
- Preliminary Results 2012
- IMI: At a glance
- IMI History
- Eley: About us
- Macalister, Terry (13 March 2001). "IMI takes £40m hit to cut jobs". The Guardian. Retrieved 8 April 2013.
- "Paul falls down in IMI shuffle". Birmingham Post – via HighBeam Research (subscription required). 5 January 2001. Retrieved 8 April 2013.
- "Martin J. Lamb: Executive Profile". BusinessWeek. Retrieved 20 November 2012.
- "Martin James Lamb". Director Check. Retrieved 8 April 2013.
- IMI: About us