IMI plc: Difference between revisions
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| location = [[Birmingham]], [[England]] |
| location = [[Birmingham]], [[England]] |
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| key_people = [[Robert Smith, Baron Smith of Kelvin|Lord Smith]] <small>(Chairman)</small> <br> [[Mark Selway]] <small>(CEO)</small> |
| key_people = [[Robert Smith, Baron Smith of Kelvin|Lord Smith]] <small>(Chairman)</small> <br> [[Mark Selway]] <small>(CEO)</small> |
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| num_employees = |
| num_employees = 11,081 (2016)<ref name=prelims/> |
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| revenue = [[Pound sterling|£]]1, |
| revenue = [[Pound sterling|£]]1,649 million (2016)<ref name=prelims>{{cite web|url=http://www.imiplc.com/~/media/Files/I/IMI/annual-reports/imi-ara-2016.pdf|title= Annual Report 2016|publisher=IMI|accessdate=22 April 2017}}</ref> |
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| operating_income=[[Pound sterling|£]] |
| operating_income=[[Pound sterling|£]]224.2 million (2016)<ref name=prelims/> |
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| net_income = [[Pound sterling|£]] |
| net_income = [[Pound sterling|£]]133.2 million (2016)<ref name=prelims/> |
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| industry = Engineering |
| industry = Engineering |
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| products = |
| products = |
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Revision as of 09:51, 22 April 2017
 | |
| Company type | Public company |
|---|---|
| LSE: IMI OTCQX: IMIAY | |
| ISIN | GB00BGLP8L22  |
| Industry | Engineering |
| Founded | 1862 |
| Headquarters | Birmingham, England |
Key people | Lord Smith (Chairman) Mark Selway (CEO) |
| Revenue | £1,649 million (2016)[1] |
| £224.2 million (2016)[1] | |
| £133.2 million (2016)[1] | |
Number of employees | 11,081 (2016)[1] |
| 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 250 Index.
History
The Company was founded by Scottish entrepreneur George Kynoch who opened a percussion cap factory in Witton, West Midlands in 1862, trading as Kynoch.[2] 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.[2] After World War I it merged with Nobel Industries.[2] In 1926 the Company acquired Eley Brothers, an ammunition business.[3] The Company, by then known as Nobel Explosives, was one of the four businesses which merged in 1927 to create Imperial Chemical Industries.[2] The Witton site became the head office of ICI Metals.[2] In the 1950s the company's researchers perfected the process for producing titanium on a commercial basis.[2] In 1958 ICI Metals bought 50% of Yorkshire Imperial Metals: it acquired the other 50% four years later.[4]
The name Imperial Metal Industries Limited (IMI for short) was adopted on the 100th anniversary of the firm in 1962.[2] The Company was listed on the London Stock Exchange in 1966.[2] Initially ICI retained a majority holding, but in 1978 IMI became fully independent.[2] In the 1990s the Company disposed of its more basic businesses such as metal smelting and metal founding.[2]
The company announced in October 2013 that a decade-long programme of transformation had been completed with the disposal of two non-core subsidiaries to Berkshire Hathaway for £690m.[5] The disposal of the Cornelius Group, a beverage-dispensing machine business, together with the disposal of a marketing intelligence business, would enable the company to focus on its control valve making business.[6]
Business platforms
The company now has three business divisions:[7]
- Critical engineering: Critical engineering division
- Precision engineering: Precision engineering division
- Hydronic engineering: Hydronic engineering division
References
- ^ a b c d "Annual Report 2016" (PDF). IMI. Retrieved 22 April 2017.
- ^ a b c d e f g h i j "History". IMI. Retrieved 10 March 2014.
- ^ "About us". Eley. Retrieved 10 March 2014.
- ^ "I.C.I. and Yorkshire Copper Works", The Times, 4 January 1958, p. 12
- ^ "IMI boss says decade-long transformation complete". The Telegraph. 16 October 2013. Retrieved 10 March 2014.
- ^ "Berkshire Hathaway buys UK's IMI". The Telegraph. 17 October 2013. Retrieved 10 March 2014.
- ^ "Our businesses". IMI. Retrieved 10 March 2014.
External links
- Use dmy dates from April 2011
- Companies in the FTSE 250 Index
- Companies listed on the Pink Sheets
- Engineering companies of the United Kingdom
- Companies listed on the London Stock Exchange
- Manufacturing companies based in Birmingham, West Midlands
- Firearm manufacturers of the United Kingdom
- Companies established in 1862
- 1862 establishments in England