Construction & ENGINEERING
IMI Precision Engineering is a long-established British company headquartered in Birmingham. It specialises in the design and manufacture of highly engineered products that control the precise movement of fluids. Today it is focused on high growth sectors that include energy, transportation and infrastructure, as Philip Yorke reports.
Fluid precision - optimised I
MI Precision engineering was founded in 1862 by Scottish entrepreneur, George Kynoch. Initially it made percussion caps, parts for bicycles and components made from non-ferrous metals. Today it is a global leader in three key industrial sectors: critical engineering, precision engineering and hydronic engineering. IMI stands for Imperial Metal Industries – the name was adopted on the 100th anniversary of the company in 1962. IMI Precision Engineering is listed on the London Stock Exchange and is a component of the Financial Times top 100 UK companies. In 2018 IMI employed over 11,000 people and recorded sales of around €2 billion.
Critical engineering advances IMI’s Critical Engineering division’s ‘Value engineering’ is a core component of its New Product Development activities and over the last two years has enhanced its skills and capability, which in turn has significantly improved its competitiveness. Despite challenging market conditions, this largest IMI division has won around half a billion pounds of new contracts since 2016, through its application of the company’s ‘Value Engineering’ tools and processes. On average, a cost reduction of more than 15 per cent has been delivered across all divisions.
Industry Europe 105
