IMI PLC (IMI.L)
16 Jan 2018
Latest Key Developments (Source: Significant Developments)
Dec 14 (Reuters) - Imi Plc
IMI PLC:Restructuring activities in 2016 to cost about 27 million stg - RTRS."We would like to acquire oil & gas assets" - CEO."We will be willing to make acquisitions for the Precision engineering unit from 2017"- CEO.Restructuring in 2016 to result in about 190 jobcuts - ceo."We would like to acquire assets the same size as last year for Critical engineering unit"- CEO. Full Article
IMI PLC:At the time of our November 2015 trading update we announced that we were reviewing a number of cost-reduction initiatives to ensure that the organic elements of our strategic growth plan remained on-track and to mitigate, where practical, the impact of this trading environment.Critical Engineering has initiated a number of cost cutting initiatives including the restructuring of its Swiss and Canadian nuclear businesses.which are being transferred to IMI Bopp & Reuther's Mannheim facility in Germany and the closure and transfer of IMI TH Jansen's production facility to IMI Z&J's plant in Germany.In Precision Engineering the downsizing of its Brazilian operation has been completed and, along with Critical Engineering, Precision Engineering is in the process of exiting its Balterswil operation in Switzerland.Says fully recognise that these difficult decisions affect our employees and the communities in which we operate, however they are necessary to keep our strategic plan on track and deliver long-term sustainable growth. Full Article
Nov 9 Britain's FTSE 100 index is seen opening 2 points higher at 7,531.4 on Friday, according to financial bookmakers. * BGEO GROUP: Georgia's BGEO Group Plc, which is planning to split its banking and investment businesses, reported a 20.3 percent fall in third-quarter profits on Wednesday. * BOE: Banks might start to activate contingency plans and possibly move business away from Britain if there is no clarity on the UK departure from the European Union by nex
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