IMI plc
Encyclopedia
IMI plc 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
.
entrepreneur George Kynoch
who opened a percussion cap
factory in Witton, West Midlands
in 1862, trading as Kynoch
. The business soon diversified, manufacturing goods ranging from soap and bicycle components to non-ferrous metal
s, 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. The Company, by then known as Nobel Explosives, was one of the four businesses which merged in 1927 to create Imperial Chemical Industries
. The Witton site became the head office of ICI Metals. In the 1950s the company's researchers perfected the process for producing titanium
on a commercial basis.
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.
Birmingham
Birmingham is a city and metropolitan borough in the West Midlands of England. It is the most populous British city outside the capital London, with a population of 1,036,900 , and lies at the heart of the West Midlands conurbation, the second most populous urban area in the United Kingdom with a...
, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
. It is listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and is a constituent of the FTSE 100 Index
FTSE 100 Index
The FTSE 100 Index, also called FTSE 100, FTSE, or, informally, the footsie , is a share index of the 100 most highly capitalised UK companies listed on the London Stock Exchange....
.
History
The Company was founded by ScottishScottish people
The Scottish people , or Scots, are a nation and ethnic group native to Scotland. Historically they emerged from an amalgamation of the Picts and Gaels, incorporating neighbouring Britons to the south as well as invading Germanic peoples such as the Anglo-Saxons and the Norse.In modern use,...
entrepreneur George Kynoch
George Kynoch (businessman)
George Kynoch was the founder of IMI plc, one of the United Kingdom's largest engineering businesses.-Career:...
who opened a percussion cap
Percussion cap
The percussion cap, introduced around 1830, was the crucial invention that enabled muzzleloading firearms to fire reliably in any weather.Before this development, firearms used flintlock ignition systems which produced flint-on-steel sparks to ignite a pan of priming powder and thereby fire the...
factory in Witton, West Midlands
Witton, West Midlands
Witton is an inner city area in Birmingham, England, in the metropolitan county of the West Midlands. It was within the ancient parish of Aston in the Hemlingford hundred of the historic county of Warwickshire...
in 1862, trading as Kynoch
Kynoch
Kynoch was a manufacturer of ammunition, later incorporated into ICI but remaining as a brand name for sporting cartridges.-History:Kynoch was established in Witton in Birmingham in 1862 by Scottish entrepreneur George Kynoch when he opened a percussion cap factory in Witton. In 1895 he built an...
. The business soon diversified, manufacturing goods ranging from soap and bicycle components to non-ferrous metal
Non-ferrous metal
In metallurgy, a non-ferrous metal is a metal that is not ferrous, that is, any metal, including alloys, that does not contain iron in appreciable amounts...
s, but by the early 20th century it had developed particular expertise in metallurgy
Metallurgy
Metallurgy is a domain of materials science that studies the physical and chemical behavior of metallic elements, their intermetallic compounds, and their mixtures, which are called alloys. It is also the technology of metals: the way in which science is applied to their practical use...
. After World War I it merged with Nobel Industries. In 1926 the Company acquired Eley Brothers
Eley Brothers
Eley Brothers were a manufacturer of firearms cartridges at the Eley's Cartridge Factory, located in Edmonton and bordered by the River Lee Navigation and the Great Eastern Railway at Angel Road.- History :...
, an ammunition
Ammunition
Ammunition is a generic term derived from the French language la munition which embraced all material used for war , but which in time came to refer specifically to gunpowder and artillery. The collective term for all types of ammunition is munitions...
business. The Company, by then known as Nobel Explosives, was one of the four businesses which merged in 1927 to create Imperial Chemical Industries
Imperial Chemical Industries
Imperial Chemical Industries was a British chemical company, taken over by AkzoNobel, a Dutch conglomerate, one of the largest chemical producers in the world. In its heyday, ICI was the largest manufacturing company in the British Empire, and commonly regarded as a "bellwether of the British...
. The Witton site became the head office of ICI Metals. In the 1950s the company's researchers perfected the process for producing titanium
Titanium
Titanium is a chemical element with the symbol Ti and atomic number 22. It has a low density and is a strong, lustrous, corrosion-resistant transition metal with a silver color....
on a commercial basis.
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
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
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.
Operations
The Company now has five divisions:- Severe service: control valveValveA valve is a device that regulates, directs or controls the flow of a fluid by opening, closing, or partially obstructing various passageways. Valves are technically pipe fittings, but are usually discussed as a separate category...
s 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.