£19 million Acquisition of Robimatic plc - 8 August 2000

IMI plc, the major international engineering group, today announces the acquisition of Robimatic plc, the UK's market leader in the field of packaging and distributing plumbing products. Robimatic, based in Burgess Hill and Northampton, supplies the growing DIY sector and some 1,500 independent merchants around the country.

Robimatic strengthened its position in the UK market in April 1999 with the acquisition of Oracstar. The businesses had a combined turnover for 1999 of £27 million, 23% ahead of the £22 million achieved in 1998. Robimatic has started this year strongly with sales for the six months to 30 June of £17 million.

Products supplied by Robimatic include plastic and copper plumbing and central heating products. IMI's Hydronic Controls group, which includes Polypipe, is a major supplier to Robimatic.

The consideration of up to £19 million will be satisfied in loan notes and cash.

The acquisition broadens the range of products which Polypipe in particular offers to both the DIY and merchant sectors, which have demonstrated a growing requirement for pre-packed product. It is expected that there will be opportunities for leveraging additional sales to both these sectors.

IMI's Hydronic Controls group is the European market leader in the manufacture and supply of hydronic systems. In 1999, Hydronic Controls reported turnover of £543 million and an operating profit of £69.5 million.

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Enquiries:

IMI plc
Trevor Slack, Executive Director
Tel: 0121 356 4848

Shandwick International
Tel: 0976 363 198
or: 01304 613037
Ben Padovan

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