Midlands engineering giant IMI has strengthened its presence in Asia after announcing a £20 million acquisition of Japanese control valve business ABB KK and earmarking £6 million for investment in China and South Korea.
IMI said it hoped to leverage the strong reputation of ABB KK amongst many the major Japanese power generating companies.
The firm has has designed, manufactured, and serviced control valves in the country for more than 30 years.
Based in Seishin, near Kobe, the company will continue to be operated by its existing management team.
IMI said the additional £6 million investment would also be used to widen its presence in the Asian serviced valve market.
This involves the launch of a new joint venture business with the Shanghai Power Station Auxiliary Equipment Works in China and also taking control of a previously 50 per cent owned joint venture in South Korea.
IMI executive director David Nicholas said: "The control valves business of ABB KK in Japan brings with it both a strong reputation in severe service applications and a substantial installed valve population.
"This acquisition, together with the developments in Korea and China, increases our capabilities in markets where there is strong demand for our severe service valve expertise."
