IMI plc
 |
|
| Type | Public company |
|---|---|
| Traded as | LSE: IMI OTCQX: IMIAY |
| Industry | Engineering |
| Founded | 1862 |
| Headquarters | Birmingham, England |
| Key people | Roberto Quarta (Chairman) Martin Lamb (CEO) |
| Revenue | £2,192 million (2012)[1] |
| Operating income | £373.0 million (2012)[1] |
| Net income | £233.7 million (2012)[1] |
| Employees | 15,700 (2013)[2] |
| Website | www.imiplc.com |
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.
Contents |
History[edit]
The Company was founded by Scottish entrepreneur George Kynoch who opened a percussion cap factory in Witton, West Midlands in 1862, trading as Kynoch.[3] 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.[3] After World War I it merged with Nobel Industries.[3] In 1926 the Company acquired Eley Brothers, an ammunition business.[4] The Company, by then known as Nobel Explosives, was one of the four businesses which merged in 1927 to create Imperial Chemical Industries.[3] The Witton site became the head office of ICI Metals.[3] In the 1950s the company's researchers perfected the process for producing titanium on a commercial basis.[3]
The name Imperial Metal Industries Limited (IMI for short) was adopted on the 100th anniversary of the firm in 1962.[3] The Company was listed on the London Stock Exchange in 1966.[3] Initially ICI retained a majority holding, but in 1978 IMI became fully independent.[3]
In the 1990s the Company disposed of its more basic businesses such as metal smelting and metal founding.[3]
The current Chief Executive is Martin Lamb, who has been Chief Executive of IMI plc since January 2001,[5] and a Director since 1996, having joined the company in 1985.[6] He has been a Non-Executive Director of water company, Severn Trent plc since February 2008.[7] Lamb holds and has held many directorships.[8] Lamb succeeded Gary Allen.
Operations[edit]
The Company now has five divisions:[9]
- 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[edit]
- ^ a b c Preliminary Results 2012
- ^ IMI: At a glance
- ^ a b c d e f g h i j 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
