Focusing on markets that offer the greatest growth
Division:IMI Critical Engineering
Date:24 March 2017
The Asian market offers significant growth potential and we have been expanding our presence in the region. In China, our enlarged footprint has enabled us to localise the manufacture of a number of our products for the Chinese market at our manufacturing plant in the Qingpu Industrial Zone. This development brings us closer to both our existing customers and a range of potential new customers, and it also enhances our cost competitiveness.
In South Korea, home of some of the world’s largest engineering design houses, IMI CCI’s manufacturing facility at Paju, a city to the North West of Seoul, achieved several significant milestones during the year. Opened in 2015, the Group’s lean operational processes are now embedded in all parts of the facility and it is now recognised as the most efficient plant in the Critical Engineering division.
New product development processes have been accelerated and, during the year, an enhanced range of conventional valves, which significantly expand our power sector product offering, were developed and launched. In March 2016, following extensive reviews of its engineering and quality assurance systems, its products and facilities, the business was additionally awarded approved supplier status for semi-severe control valves by Korea Hydro and Nuclear Power Co. Ltd, the largest power generation company in South Korea which provides approximately 30% of the country’s electricity supply.