England's IMI Secures Strategic Foothold in U.S. with Hydronics Acquisition.Business Editors DALLAS--(BUSINESS WIRE)--Aug. 29, 2000 International engineering group IMI plc IMI plc (LSE: IMI), formerly Imperial Metal Industries, is a British based engineering company headquartered in Birmingham. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. .(LSE LSE - Language Sensitive Editor :IMI IMI International Masonry Institute (Washington, DC) IMI Israel Military Industries IMI Institute of the Motor Industry IMI International Market Insight IMI Imposto Municipal Sobre Imóveis (Portugal) .) and its Hydronic hy·dron·ic adj. Of or relating to a heating or cooling system that transfers heat by circulating a fluid through a closed system of pipes. [hydr(o)- + -onic (as in electronic).] Controls division reached an agreement Friday to acquire Flow Design Inc. Based in Dallas, Flow Design Inc. manufactures balancing valves for the heating, air-conditioning and ventilation ventilation, process of supplying fresh air to an enclosed space and removing from it air contaminated by odors, gases, or smoke. Proper ventilation requires also that there be a movement or circulation of the air within the space and that the temperature and market. The company is the U.S. market leader in automatic flow control devices. The acquisition is an excellent fit with the IMI Indoor Climate business, operating as Tour and Andersson (TA) Hydronics and Heimeier. The Indoor Climate business will benefit from the Flow Design Inc. market by leading automatic flow control technology, promoting its existing product range, and cross-selling Flow Design Inc. products through existing international sales and distribution network. "We have developed our position of world leadership on the basis of manual balancing technology, there is however a significant growing segment which utilizes automatic valves. The Indoor Climate business of IMI Hydronic Controls will now fill a strategic gap in the product range and will at the same time provide an important entree into the U.S. market -- the largest balancing valve market in the world," Per Borgvall, Managing Director of TA Hydronics and Heimeier, said. Flow Design Inc. operates in three areas: AutoFlow, FlowSet and VersaFlow. AutoFlow consists of various automatic flow controls devices, FlowSet covers the manual balancing valve systems, and VersaFlow offers hose, hose kits and accessories. The company began operations as AutoFlow Inc. in 1978. Currently, Flow Design Inc. employs approximately 130 people. IMI is a major international group operating in four business areas: Hydronic Controls, Drinks Dispense dispense /dis·pense/ (-pens´) to prepare medicines for and distribute them to their users. dis·pense v. To prepare and give out medicines. , Fluid Power, and Energy Controls. Through its Hydronic Controls business, IMI is a leading international manufacturer of valves, heating equipment, fittings and tubes for the plumbing plumbing, piping systems inside buildings for water supply and sewage. The Romans had a highly developed plumbing system; water was brought to Rome by aqueducts and distributed to homes in lead pipes—hence the name plumbing from the Latin word plumbum and heating industry. The acquisition of leading companies with strong brands has generated growth worldwide. At the end of 1999, IMI had just over 19,000 employees in thirty countries around the world. |
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