Statement Of Objections - 2 September 2003
As reported in our press release dated 23 March 2001, the European Commission visited various European manufacturers of copper tube and fittings, including IMI, in the course of investigations for evidence of any anti-competitive behaviour in the copper plumbing tube and fittings markets. In respect of copper plumbing tube, we have received a Statement of Objections from the Commission setting out complaints of alleged anti-competitive practices among a number of parties, including IMI. The investigation in respect of copper plumbing fittings is continuing but no Statement of Objections has yet been received. We continue to co-operate with the Commission in respect of both investigations. IMI disposed of its copper plumbing tube and fittings businesses during 2002 but retains responsibility for these investigations.
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For further information contact:
IMI plc
Graham Truscott, Communications Director
Tel: 0121 717 3712
Weber Shandwick Square Mile
Nick Oborne / Peter Corbin
Tel: 020 7067 0700
Note to Editors:
IMI plc is a dynamic international engineering business specialising in innovative solutions and services for a wide range of industrial and retail customers. Its future growth is being built on the two business areas of Fluid Controls and Retail Dispense.
IMI's operations in these two business areas share the following core characteristics: strong market positions in growing markets; the ability to be clearly differentiated from their competitors through technological innovation or after-sales service; and the provision of 'added value' through bespoke solutions rather than a high manufacturing or material content.
IMI is quoted on the London Stock Exchange and is capitalised at approximately £1.2 billion.
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