Business priorities
•
Capitalise on attractive growth in
existing markets
> Our goal is 6-8% organic compound
average growth rate over 5 years
•
Invest to support growth markets
> New larger sites in Houston, Italy and
Korea completed
> Planned refurbishment of IMI Z&J site
in Germany
> Investing in additional service locations
to support aftermarket
•
Enhance systems and processes
> New product development
> Project execution benchmarking
> Enterprise Resource Planning (ERP) system
implementation progressing well at IMI CCI
•
Acquisitions to support growth
> Add strategically aligned bolt-ons
such as Bopp & Reuther acquired in
January 2015
> Extend into adjacent markets
> Expand product portfolio - semi-severe
and configured valves
•
Fix the basics in the next two years
> Simplify organisational structure
> Introduce standard costing
•
New ERP implementation underway in
Brazil and North America
•
Grow emerging market local
manufacturing content
> Address supply chain complexity
> Manufacture closer to end customers
•
Increase plant utilisation
> Significantly improve operational
performance
•
Revitalise industrial automation
and grow organically
> New product development
> Our goal is growth in line with GDP in years 1
and 2 and 6-8% organic CAGR thereafter
•
Acquisitions
> Future opportunity for larger acquisitions
to accelerate growth
•
Capitalise on attractive growth in
existing markets
> Our goal is >5% organic CAGR over
5 years
•
Increase new product development
> 14 new products launched in 2014
> Double investment in new product
development over 5 years
> 15 new products planned for 2015
•
Optimise organisational structure
> Introduce core processes
> Project underway to implement new
divisional ERP system
•
Acquisitions
> Potential bolt-on acquisitions to target
North America
Focus
and grow
Fix,
focus and grow
Focus
and grow
For each of the divisions we have developed five year plans which are closely aligned to the
ambitions of the Group. These plans are now fully embedded within each division and are
already beginning to deliver real progress. The key strategic priorities for each division
are as follows:
12
IMI plc
Executive Committee
*
Mark Selway
Chief Executive and
Interim Divisional
Managing Director, IMI
Precision Engineering
Daniel Shook
Finance Director
From 1 March 2015*
Peter Spencer
Divisional Managing
Director, IMI Hydronic
Engineering
Paul Roberts
Group Business
Development Director
Geoff Tranfield
Group Human
Resources Director
John O’Shea
Legal & Compliance
Director and Company
Secretary
Roy Twite
Divisional Managing
Director, IMI Critical
Engineering
Executive biographies
*Douglas Hurt was the Finance Director and a member of the Executive Committee until 28 February 2015
