09/10/2015 10:00:16 Free Membership Login

IMI Inks China Nuclear JV With Shanghai Automation Instrumentation Co

Date : 12/06/2010 @ 2:53AM
Source : Dow Jones News
Stock : IMI (IMI)
Quote : 1083.0  26.0 (2.46%) @ 9:45AM
IMI share price Chart

IMI Inks China Nuclear JV With Shanghai Automation Instrumentation Co

Historical Stock Chart

5 Years : From Oct 2010 to Oct 2015

Click Here for more IMI Charts.

IMI PLC (IMI.LN), an international engineering group, is pleased to announce that it has entered into a memorandum of understanding to create a new venture in China with Shanghai Automation Instrumentation Company Ltd, or SAIC.


-SAIC are industry leaders in controls and instrumentation technology and are already important suppliers to the China nuclear industry.

-The nuclear power market in China is the fastest growing in the world with 13 operational reactors, 25 under construction and many more expected to start construction in the near future.

-These planned new reactors are expected to increase China's nuclear capacity to 80 gigawatts by 2020 and significantly higher thereafter.

-The proposed joint venture will produce control valves for critical applications for these new nuclear power generation plants.

-The product range will complement IMI's existing nuclear capabilities offering a complete supply of control valves.

-The proposed venture and the parties respective contributions are expected to be finalised in the next few months, with plans for a new valve production facility to be established on Chong Ming Island, near Shanghai.

-IMI shares closed Friday at 914.0 pence.

By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com


Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

1 site:2 us 151009 10:00