IMI plc
{{Short description|British engineering company}}
{{Use dmy dates|date=June 2020}}
{{Infobox company
| name = IMI plc
| logo = IMI Plc Logo 2024.png
| logo_size = 160px
| former_name = {{Ubl
| Imperial Metal Industries Limited (1962–1978)
| IMI Limited (1978–1981)
}}
| type = Public
| traded_as = {{ubl|{{LSE|IMI}}|FTSE 100 component}}
| company_slogan =
| foundation = 1862
| location = {{nowrap|Birmingham, England, UK}}
| key_people = Lord Smith (Chairman)
Roy Twite (CEO)
| revenue = {{increase}} £2,210.0 million (2024){{cite web|url=https://www.imiplc.com/sites/imi-corp-rev2/files/2025-02/imi-plc-preliminary-results-2025.pdf|title= Annual Results 2024|publisher=IMI|access-date=28 February 2025}}
| operating_income = {{increase}} £435.5 million (2024)
| net_income = {{increase}} £248.5 million (2024)
| num_employees = 10,000 (2025){{cite web|url=https://www.imiplc.com/people/imi-at-glance|title=IMI at a Glance|publisher=IMI plc|access-date=9 February 2025}}
| industry = Engineering
| products =
| homepage = {{URL|https://imiplc.com}}
}}
IMI plc{{Cite web |title=IMI PLC overview - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/00714275 |access-date=2025-01-26 |website=find-and-update.company-information.service.gov.uk |language=en}} ({{lse|IMI}}), formerly Imperial Metal Industries Limited (1962–1968){{Cite web |date=1979-05-02 |title=Company name changed\certificate issued on 02/05/79 |url=https://find-and-update.company-information.service.gov.uk/company/00714275/filing-history/MTgyODIzODNhZGlxemtjeA/document?format=pdf&download=0 |access-date=2025-01-26 |website=Companies House}} and IMI Limited (1978–1981),{{Cite web |date=1981-11-02 |title=Certificate of re-registration from Private to Public Limited Company |url=https://find-and-update.company-information.service.gov.uk/company/00714275/filing-history/MTM5MDI4NjNhZGlxemtjeA/document?format=pdf&download=0 |access-date=2025-01-26 |website=Companies House}} 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.
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.{{cite web|url=http://www.imiplc.com/about-imi/our-history.aspx|publisher=IMI|title=History|access-date=10 March 2014|archive-url=https://web.archive.org/web/20140116131414/http://www.imiplc.com/about-imi/our-history.aspx|archive-date=16 January 2014|url-status=dead}} 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.{{cite web|url=http://www.eley.co.uk/about-eley.aspx|publisher=Eley|title=About us|access-date=10 March 2014|archive-url=https://web.archive.org/web/20140311024340/http://www.eley.co.uk/about-eley.aspx|archive-date=11 March 2014|url-status=dead}} The company, by then known as Nobel Explosives, was one of the four businesses that merged in 1927 to create Imperial Chemical Industries. The Witton site became the head office of ICI Metals. During the Second World War the Witton site was used for the development and production of uranium for the Tube Alloys project.{{cite book|title=The Pre-Harwell Era|publisher=New Scientist|date=15 August 1957|url=https://books.google.com/books?id=etFu7wwIH7AC&q=Tube+Alloys+project+witton+alexander&pg=PA34}}
In the 1950s the company's researchers perfected the process for producing titanium on a commercial basis. In 1958 ICI Metals bought 50% of Yorkshire Imperial Metals: it acquired the other 50% four years later."I.C.I. and Yorkshire Copper Works", The Times, 4 January 1958, p. 12
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.
In 2003, IMI moved from the Witton site to new headquarters close to Birmingham Airport.Records of IMI [Imperial Metal Industries] PLC and subsidiary companies, 1865–1973, Walsall Local History Centre (Reference Code: 1000)
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.{{cite web|url=https://www.telegraph.co.uk/finance/newsbysector/industry/engineering/10382226/IMI-boss-says-decade-long-transformation-complete.html|title=IMI boss says decade-long transformation complete|date=16 October 2013|work=The Telegraph|access-date=10 March 2014}} 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.{{cite web|url=http://www.dailytelegraph.com.au/business/breaking-news/berkshire-hathaway-buys-uks-imi/story-fni0xqe3-1226741451645|title=Berkshire Hathaway buys UK's IMI|date=17 October 2013|work=The Telegraph|access-date=10 March 2014}}
In November 2022, it was announced IMI had acquired the Blackburn-based smart thermostatic control manufacturer, Heatmiser, for £110 million.{{Cite web |date=2022-11-08 |title=Smart thermostat manufacturer set to be acquired for £110m {{!}} TheBusinessDesk.com |url=https://www.thebusinessdesk.com/westmidlands/news/2069017-smart-thermostat-manufacturer-set-to-be-acquired-for-110m |access-date=2022-11-08 |website=West Midlands |language=en}}
Sectors
File:Former IMI entrance, Perry Barr - geograph.org.uk - 1671639.jpg]]
The company is involved in five sectors:{{cite web|url=https://www.imiplc.com/what-we-do |publisher=IMI|title= What we do |access-date=26 January 2025}}
- Process automation
- Industrial automation
- Climate control
- Life science & fluid control
- Transport
References
{{reflist|30em}}
External links
- {{official website|http://www.imiplc.com}}
- [http://www.staffshomeguard.co.uk/KOtherInformationKynoch.htm An Unofficial History of Kynoch Works]
{{FTSE 100 Index constituents}}
{{Authority control}}
Category:Aircraft component manufacturers of the United Kingdom
Category:British companies established in 1862
Category:Companies listed on the London Stock Exchange
Category:Engineering companies of the United Kingdom
Category:Firearm manufacturers of the United Kingdom
Category:Manufacturing companies based in Birmingham, West Midlands
Category:Metal companies of the United Kingdom
Category:1862 establishments in England