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Thursday 11 January, 2001



11 January 2001

  11 January 2001

                                   IMI plc

                      IMI makes £16 million acquisition

IMI plc, the major international engineering group, has today agreed to
acquire the BTG severe service valves business from Fairey Group Plc for a
cash consideration of approximately £16 million.

BTG supplies high performance turbine bypass systems for steam and water
applications in power and process plants. BTG's manufacturing facilities are
located in Sweden and it has sales and service locations in more than a dozen
countries worldwide. BTG employs 184 people and in the year ended 31 December
2000 unaudited sales and operating profits were £21 million and £1.7 million

With extensive experience in steam conditioning and turbine bypass systems
technology, BTG is an excellent fit with Control Components Inc ('CCI'), part
of IMI's Energy Controls businesses, and broadens CCI's severe service valve
product offering.

The consideration is payable in cash on completion which is expected to take
place in the next month subject to regulatory clearance.

Martin Lamb, Chief Executive of IMI plc, said: 'BTG is an important step in
consolidating CCI's position as a leading supplier of severe service valves,
enhancing its standing in northern and eastern Europe in particular. Worldwide
demand for severe service valves looks set to continue its pattern of strong
growth as customers seek to optimise plant efficiency and reduce energy
consumption. The current order book stretches into 2002.'

                                   - ends -


IMI plc

Martin Lamb, Chief Executive                     Tel: 0121 332 2343

Issued by:

Shandwick International

Ben Padovan / Peter Corbin                         Tel: 020 7329 0096