| Type | Public company (LSE: IMI) |
|---|---|
| Industry | Engineering |
| Founded | 1862 |
| Headquarters | Birmingham, England |
| Key people | Roberto Quarta (Chairman) Martin Lamb (CEO) |
| Revenue | £1,917.0 million (2010)[1] |
| Operating income | £319.7 million (2010)[1] |
| Net income | £226.4 million (2010)[1] |
| Employees | 14,000 (2010)[2] |
| Website | http://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.
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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 Company now has five divisions:[5]