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IMI picks up valves pair

Management has been promising more takeover action and these acquisitions look like a good fit
February 20, 2012

Industrial engineering group IMI has beefed up its severe-service valves division, paying €100m (£84m) for Italy’s Remosa and up to £43m in cash for InterAtiva of Brazil. Combined, the acquisitions made an underlying cash profit of almost £10m in 2011 on £52m of sales.

IC TIP: Buy at 982p