IMI acquires EPIQ subsidiaries in Europe and Mexico

These entities are involved in the design and manufacture of electronic and electro-mechanical systems and subsystems for diverse markets that include automotive and industrial equipment. The purchase consideration of approximately EUR 43.5 million is made through a combination of a cash payment and 200 million new IMI shares representing approximately EUR 24.4 million or 12% of the common shares on a fully diluted basis. The cash component requires IMI to pay EPIQ EUR 4.8 million upfront and the balance over the next seven years. Arthur R. Tan, IMI president and chief executive officer, said, "Our presence in key areas overseas allows us to participate actively in providing solutions to original equipment manufacturers catering to regional and international markets. Moreover, our global representation gives us access to the finest talents anywhere in the world.” IMI now operates in 17 manufacturing sites around the world located in the Philippines, China, Singapore, the United States of America, Mexico, Bulgaria, and the Czech Republic.