IMI Critical announces 90mRMB investment in China

29/10/2015

​​​​​​​​​IMI Critical is investing 90mRMB to build a new factory in Shanghai despite the tough economic climate, the company announced at the 2015 Valve World Expo & Conference Asia, held in Suzhou, China, in September.

The new factory will take two years to build, and will supply custom-engineered valves, actuation and control systems for use in the power industry. In addition to building a new factory, IMI Critical will set up a full engineering team in Shanghai to provide on the ground skills and expertise to clients to "maintain our long-term competitiveness", said Roy Twite, IMI Critical's Divisional Managing Director.

"40% of all new fossil and nuclear power projects worldwide are in China," said Roy Twite, "so China still has strong demand for energy. Our major investments are made from a perspective spanning 10 or even 20 years, and looking forward, we have strong confidence in the Chinese economy. We expect our Shanghai investment to generate real returns in five to 10 years."

With China's per capita electric power consumption standing at around a quarter of the US's, continuing urbanisation and rising living standards will create strong demand for energy in the medium to long term. This demand could see China move from being the IMI Group's fourth most important market to its second most important market within a decade. 

Artist's impression of the new factory & offices​.​


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IMI Critical announces 90mRMB investment in China