IMI plc (IMI.L, IMIAF), a fluid and motion control company, on Monday announced it has agreed to sell its Truflo Marine business to Fairbanks Morse Defense for an enterprise value of 225 million pounds.
The transaction is expected to close in mid-2026.
The move also further aligns the group with growth areas in energy, automation and healthcare.
Truflo Marine is a supplier of mission-critical valves and actuators for naval submarine programmes and is being divested as part of the company's portfolio management strategy.
On Friday, IMI closed trading 0.08% lesser at 2,388 pence on the London Stock Exchange.
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