£9 million IMI disposal in Australasia - 13 November 2000
IMI plc, the major international engineering group, today announces the sales of its plumbing and heating fittings business in Australasia to the GSA Group, based in Melbourne, Australia, for a cash consideration of approximately £9 million. Sales in 1999 were just over £15 million.
Barry Pointon, IMI Executive Director responsible for Hydronic Controls, said "IMI believes this combination is in the best interest of both parties".
The proceeds of the sale were paid in full on completion and will be re-invested in IMI's businesses.
-ends-
Enquiries:
IMI plc
Tel: 0121 356 4848
Barry Pointon
Issued by:
Weber Shandwick Worldwide
Tel: 020 7329 0096
Bobby Leach/Peter Corbin
 back to index  back to top
|
