EC issues statement of objections in the copper plumbing fittings enquiry - 26 September 2005
IMI plc reported in its Interim Results announcement published on 5 September that it expected to receive in 2005 a Statement of Objections from the European Commission with respect to its former copper plumbing fittings business. IMI announces that it has today received the Statement of Objections. A decision from the Commission as to the level of any possible fine in the fittings enquiry is not expected until 2006. The appeal in respect of the fine imposed in 2004 in the copper plumbing tube enquiry is expected to be decided during 2006. IMI sold its copper plumbing tube and fittings businesses in 2002 but IMI retains responsibility for these two competition law investigations launched in 2001.
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IMI plc
Graham Truscott, Communications Director
Tel: 0121 717 3712
Weber Shandwick Square Mile
Nick Oborne
Tel: 020 7067 0700
Note to editors:
IMI plc is an 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 £1.5bn
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