Acquisition

RNS Number : 2408M

IMI PLC

22 August 2013

 



22 August 2013

IMI plc

Acquisition expands product range and enhances R&D capabilities

IMI plc ("IMI"), the international engineering group, today announces the acquisition of Analytical Flow Products (AFP). 

AFP has an innovative range of products for the precise control of fluids in chromatography as well as for the testing of the purity of gases in refineries.  The distribution of these products will be rapidly increased through Fluid Power's extensive sales network. 

AFP also has a track record of producing a stream of new products for Life Sciences and Energy applications, having generated 14 patents and patent applications, and will become a technology development centre for Fluid Power. 

IMI paid an initial consideration of £5m for AFP and could potentially pay further deferred consideration of up to £36m based on performance over the next 5 years. 

AFP is located in Thetford Mines, Quebec, Canada and its senior management and employees will be transferring to IMI.

Enquiries to:

Will Shaw                    IMI                                                        Tel:      [phone]

Suzanne Bartch          StockWell Communications               Tel:      [phone]

Robert Morgan

Notes to editors:

IMI plc, the international engineering company, designs, manufactures and services bespoke solutions that control the precise movement of fluids. Its innovative technologies, built around valves and actuators, enable vital processes to operate safely, cleanly, efficiently and cost effectively.

It works with customers across a range of high growth sectors, including energy, oil and gas, energy efficient buildings, rail, commercial vehicles and beverage dispense all of which are benefiting from the impact of long term global trends including climate change, urbanisation, resource scarcity and ageing population.

IMI employs over 15,000 people, has manufacturing facilities in more than 20 countries worldwide and operates a global service network.  The Company is listed on the London Stock Exchange and is a member of the FTSE100.

 

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