“Our ambition is for IMI to become a world-class business, a genuine leader in all the areas in which we operate. We will do this by harnessing our engineering heritage and building IMI into a truly great company - one that thinks long-term, delivers profitable sustainable growth, invests in its future, is preferred by all stakeholders including employees, customers and investors and at all times conducts itself in an ethical and responsible manner.
At the heart of building IMI into a truly great company is The IMI Way which sets out our values – excellence, innovation, integrity and collaboration – and embraces our commitment to continually improve through the sharing of best practice and the on-going collaboration and development of our people. It also addresses all aspects of the way we conduct our business and the high standards of ethics and integrity we expect of our employees, including the impact we have on the environment and the communities we operate in.”
Chief Executive Officer
Health & Safety
The health and safety of our employees and the health and safety of our other stakeholders, including our customers and suppliers, is paramount. This unconditional commitment to health and safety is also consistent with our strategy to significantly improve the operational performance and the efficiency of our businesses. By prioritising health and safety and reducing the occurrence of incidents, we will also minimise the time spent investigating issues, reduce the amount of time lost to absence and sick leave and save on legal, insurance and medical costs.
Our ambition is to achieve world-class health and safety performance. To ensure that we realise this, we have embedded a proactive continuous improvement approach to health and safety across our entire organisation and during the year we made significant progress. The number of Lost Time Accidents significantly reduced in 2016 (15 in 2016 compared to 31 in 2015) and a number of our facilities have recorded significant periods of zero Lost Time Accidents, including IMI CCI Korea in our Critical Engineering division, which in July 2016 marked 2,000 days without a Lost Time Accident.
Our proactive approach to health and safety, which is aimed at continuously improving the identification and remediation of safety weaknesses in our processes and procedures and the removal of potential hazards in our facilities, covers all operations and all levels of management and includes:
- a rigorous bi-annual assessment of the ten operational and safety areas we consider most important in order to keep our employees free from harm and our operations effective and efficient.
This assessment process, which is combined with the bi-annual lean benchmarking reviews (further details of which are set out on pages 14 to 17), is undertaken by specialist health and safety experts in each operating unit which drives greater ownership of the process and ensures that health and safety is embedded in each business. Each local assessment is then independently reviewed by one of the Group or Divisional Health and Safety champions and a combined Lean-HSE report is produced which measures progress since the last assessment, identifies potential hazards, recommends remedial actions and targets further overall improvements. All assessments are posted on the Group intranet which ensures performance is visible and facilitates the sharing of best practice across all of our businesses. In addition, the combined Lean-HSE reports are analysed to identify any commonly recurring Group-wide hazards which require specific remedial action. During the year this analysis, combined with scrutiny of our accident reports,
confirmed the need to reinforce our efforts on hand injuries and in response, a Group-wide campaign focusing specifically on hand safety was launched recently;
real time monitoring of our health and safety performance: during the year the Group enhanced our HSE 360 IT system which operates in all our facilities to track any and every incident which requires first aid or any other medical intervention. In addition, in the case of an incident requiring more than first aid treatment, a report is issued to the relevant divisional management team and a remediation plan is agreed and implemented; and
regular health and safety training for all employees: every employee who joins IMI receives relevant health and safety training as part of their induction and where appropriate, participates in further on-site training focused on hazard identification, risk assessment and action planning. In addition, site management is responsible for detailed health and safety ‘Gemba Walks’, (a lean manufacturing term
used to describe the personal observation of work which involves a detailed physical review of the factory to observe and identify real time potential hazards and risks). This, in addition to our bi-annual
assessment process described above, has made a measurable impact on both our Lean-HSE scores and accident reduction.
Early in 2016, IMI CCI Korea celebrated 2,000 days with no lost time accidents
Product testing at Precision Engineering’s facility in Shanghai, China
We have a responsibility to minimise the environmental impact of our day-to-day operations.
Given the nature of our production processes, our main focus is on energy efficiency. Historically we have regularly conducted internal reviews of our energy usage. In 2015, in accordance with the European Union Energy Directive, we augmented this process by undertaking independent energy assessment surveys across our major European operations. Data and recommendations from these surveys were collated and fed into our Group-wide energy efficiency programme that was developed and rolled out during the course of the year. This programme has delivered a number of efficiency improvements including:
- Precision Engineering’s Fellbach facility in Germany installed a new boiler for their heating system that is estimated will achieve annual savings of some 300 tonnes of CO2 and £100,000; and
IMI CCI’s Brno plant in the Czech Republic and IMI Truflo Marine’s operation in Birmingham, England, upgraded lighting and lighting controls and are anticipating a combined 300 tonne reduction in CO2 emissions each year, with an investment payback on these improvements in under two years.
During the year we continued to make good progress to reduce our CO2e emissions. In 2015 we set our minimum baseline performance at 61,250 tonnes and during 2016, we reduced this further by 2%. In keeping with our continuous improvement culture, we will look to deliver further reductions year on year.
We have made significant progress in improving the operational efficiency of our facilities through the application of lean processes. A key part of the lean process is the
elimination of waste and during the year, the improvement in the Group’s inventory turns has freed up £9.6m in cash.
Employees at Precision Engineering’s facility in Shanghai, China, inspect a pneumatic manifold for a customer
We design and manufacture products that help our customers operate their systems and processes safely, cleanly and cost effectively. We also sell products that directly help to tackle some of the biggest issues facing the world today including global warming and resource scarcity.
High Integrity Pressure Protection Systems (HIPPS), designed by our Critical Engineering division, and installed in pipelines and processing plants, control the build-up of fluid and gas pressure in the system and ensure safe operation whilst avoiding harmful emissions being released into the atmosphere.
The new IMI Maxseal solenoid valve, designed and produced by our Precision Engineering division, for a wide range of Oil & Gas applications, uses less power helping customers save energy without sacrificing reliability or performance.
Eclipse, the thermostatic radiator valve, designed and manufactured by our Hydronic Engineering division, delivers a constant room temperature which enhances the efficiency of the heating system and saves on energy costs.
We continuously look at our products to see how they can better satisfy customer needs