Company type | Public company |
---|---|
ISIN | GB00BGLP8L22 |
Industry | Engineering |
Founded | 1862 |
Headquarters | Birmingham, England, UK |
Key people |
Lord Smith (Chairman) Roy Twite (CEO) |
Revenue | £2,196.0 million (2023) [1] |
£410.6 million (2023) [1] | |
£237.3 million (2023) [1] | |
Number of employees | 10,000 (2024) [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.
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 that merged in 1927 to create Imperial Chemical Industries. [3] The Witton site became the head office of ICI Metals. [3] During the Second World War the Witton site was used for the development and production of uranium for the Tube Alloys project. [5]
In the 1950s the company's researchers perfected the process for producing titanium on a commercial basis. [3] In 1958 ICI Metals bought 50% of Yorkshire Imperial Metals: it acquired the other 50% four years later. [6]
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]
In 2003, IMI moved from the Witton site to new headquarters close to Birmingham Airport. [7]
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. [8] 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. [9]
In November 2022, it was announced IMI had acquired the Blackburn-based smart thermostatic control manufacturer, Heatmiser, for £110 million. [10]
The company now has three business divisions: [11]
Company type | Public company |
---|---|
ISIN | GB00BGLP8L22 |
Industry | Engineering |
Founded | 1862 |
Headquarters | Birmingham, England, UK |
Key people |
Lord Smith (Chairman) Roy Twite (CEO) |
Revenue | £2,196.0 million (2023) [1] |
£410.6 million (2023) [1] | |
£237.3 million (2023) [1] | |
Number of employees | 10,000 (2024) [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.
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 that merged in 1927 to create Imperial Chemical Industries. [3] The Witton site became the head office of ICI Metals. [3] During the Second World War the Witton site was used for the development and production of uranium for the Tube Alloys project. [5]
In the 1950s the company's researchers perfected the process for producing titanium on a commercial basis. [3] In 1958 ICI Metals bought 50% of Yorkshire Imperial Metals: it acquired the other 50% four years later. [6]
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]
In 2003, IMI moved from the Witton site to new headquarters close to Birmingham Airport. [7]
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. [8] 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. [9]
In November 2022, it was announced IMI had acquired the Blackburn-based smart thermostatic control manufacturer, Heatmiser, for £110 million. [10]
The company now has three business divisions: [11]