03 August 2009 - Severe Service Investigation Update

IMI plc announces agreement to a settlement with the US Department of Justice (DoJ) in respect of certain irregular payments by its US subsidiary Control Components Inc (CCI).  As part of a plea agreement CCI will pay a fine of $18.2 million (which is wholly covered by a provision in the Group's 2008 accounts) and continue to co-operate with the DoJ in its ongoing investigations of certain former employees of CCI.  CCI will also be subject to oversight by an independent compliance monitor.

IMI confirms that certain former employees of CCI have been indicted by the DoJ for offences related to the investigation. No current employees of CCI or the IMI Group have been prosecuted by the DoJ.

- Ends -

Enquiries:

Weber Shandwick Financial
Nick Oborne / Stephanie Badjonat
Tel: 020 7067 0700

Notes to editors

IMI is a dynamic, worldwide company delivering innovative engineering solutions to leading global customers in clearly defined niche markets. Its five businesses share a common goal - to convert their industry knowledge and market insight into customised, design-engineered solutions which create customer advantage and value. These include severe service valves, motion and fluid control systems, indoor climate controls, beverage dispense systems, and merchandising display systems for retail operations.

Close customer relationships, strong positions in growing markets and clear differentiation through technological innovation or service are the defining characteristics of all IMI businesses.

IMI is quoted on the London Stock Exchange. Information about IMI plc can be found on the website: www.imiplc.com

back to index    back to top