Imi Plc · LSE:IMI
Imi — Investor Day (November 2011)
31 slides from Imi's investor day presentation, November 2011
Slide 1: Welcome & Introduction
Welcome & Introduction Martin Lamb Chief Executive 1
Slide 2: Agenda
Agenda • Welcome & Introduction Martin Lamb • IMI’s core Fluid Technologies Santhosh Kumar (Beverage Dispense) Richard Edwards (Fluid Power) Jean Christophe Carette (Indoor Climate) Jon Landes (Severe Service) • Applications Showcase 4 Groups • Questions and Answers • Closing comments Martin Lamb •
Slide 3: IMI Today
IMI Today 2001 2011 • Leading positions in global niche markets % of revenue from customised or 20% 70% highly engineered products • Strong long term growth drivers % of revenue from new products 4% 15% related to climate change, resource % of revenue from the aftermarket <15% >35% scarcity, urbanis
Slide 4: Margin improvement 2001 – 2011
Margin improvement 2001 – 2011 Need to get DP to do circles in blue green and yellow as per last year – but able to edit text 20.0% 16.7% 17.0% 15.7% 15.0% 14.0% 13.0% 13.1% 12.7% 12.2% 10.5% 9.8% 10.0% 9.2% 7.7% 5.0% 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 H1 2010 2011 H1 Long term object
Slide 5: IMI Tomorrow
IMI Tomorrow Need to get DP to do circles in blue green and yellow as per last year – but able to edit text Strategic Convergence Focusing on the “sweetspot” Fluid Technologies Market Characteristics & core competencies Precision flow control in critical applications: • Market leadership in Global n
Slide 6: Flow control fundamentals
Flow control fundamentals Control Loop Actuator Feedback Loop Controller / Positioner Valve Process Loop 6
Slide 7: Applications spectrum
Applications spectrum Air, Oxygen, Exhaust gas, Syrup, Water, Reagent CO2 Water Steam, Gas, Water 3m Orifice size 0.2mm 600 bar Pressure 1 bar 7
Slide 8: Applications focus
Applications focus • Challenging process environment – pressure / temperature / harsh environments • Critical outcome – high consequences of failure – high commercial returns for optimised performance – regulatory requirements – unique competitive advantage 8
Slide 9: Agenda
Agenda • Welcome & Introduction Martin Lamb • IMI’s core Fluid Technologies Santhosh Kumar (Beverage Dispense) Richard Edwards (Fluid Power) Jean Christophe Carette (Indoor Climate) Jon Landes (Severe Service) • Applications Showcase 4 Groups (i) What is critical aspect of design? (ii) Why is it imp
Slide 10: Common Fluid Technology
Common Fluid Technology An introduction to the underlying design principles and techniques behind IMI’s engineering advantage approach 10
Slide 11: Presentation Overview
Presentation Overview Overview Presentation 1. Design principles: Santhosh Kumar – VP Engineering (Cornelius) • The main system and performance parameters that must be considered and controlled during the design of a new product or technology 2. Design optimisation tools: Richard Edwards – Technical
Slide 12: 1: Design Principles
1: DESIGN PRINCIPLES Focus on the physical principles that underpin the design of mechanical and fluidic systems. 12
Slide 13: IMI Design Principles
IMI Design Principles Engineering Advantage 13
Slide 14: Designing a flow control system
Designing a flow control system Fundamental steps in designing a valve: 1. Establish the required flow performance • Single phase (liquid or gas) or 2-phase • Fluid Properties • Capacity & flow rate • Accuracy & repeatability Flow 2. Identify the required pressure conditions • Pressure Drop & inlet
Slide 15: Key Engineering Principles
Key Engineering Principles Laminar Flow Turbulent Flow laminar when Re < 2300 turbulent when 4000 < Re Choked Turbulent - Incompressible Turbulent - Compressible Flow Pressure for laminar flow Drop P2 for turbulent flow P1 Flow Turbulent - Incompressible Turbulent - Compressible Laminar - Incompress
Slide 16: Flow control products
Flow control products A wide range of flow management products are designed globally at IMI, following similar principles & techniques 16
Slide 17: 2: Design Optimisation
2: DESIGN OPTIMISATION Application of design tools to optimise the solution for any application 17
Slide 18: Design Optimisation Tools
Design Optimisation Tools Design Optimisation Tools Engineering design is fundamentally about a deep understanding of the underlying physics. • Mechanical Stress Calculations • Navier-Stokes Equations • Statistical Tolerance Analysis However, the expansion of high powered computers has enabled the a
Slide 19: Cleanliness and Cross Contamination
Cleanliness and Cross Contamination We recently launched a fluid control valve designed for professional coffee machines. Any unswept volume in the valve would restrict adequate cleaning of the valve and risk contamination of subsequent drinks. More significantly, unswept volume within the valve con
Slide 20: Cleanliness and Cross Contamination
Cleanliness and Cross Contamination We worked intimately with a customer to develop an integrated solution for an endoscope decontamination system. Legislation now requires empirical verification that endoscopes have been effectively decontaminated between patients. We used CFD at a very early stage
Slide 21: Flow Sensing and Control
Flow Sensing and Control For a portable ventilator application, we needed to minimise the size of an integrated manifold. Reducing the size can lead to turbulent flow conditions. In a closed loop system, turbulence can cause significant issues in sensing and thus controlling the flow. We minimised t
Slide 22: Fuel Delivery Manifold
Fuel Delivery Manifold We used CFD to characterise the flow of natural gas to a hydrogen fuel cell and were able to conduct a series of iterative design improvements prior to producing a physical prototype. Each iteration was reduced from several weeks to just a few days and the simulation allowed u
Slide 23: Finite Element Analysis
Finite Element Analysis The optimum mechanical design is one that is sufficiently strong, but no more. • Avoid excess weight • Avoid excess cost For a recent inlet throttle application, this principle was fundamental to the way in which we developed a new motorised proportional valve. The intense en
Slide 24: 3: Optimisation Benefits
3: OPTIMISATION BENEFITS Benefits that design optimisation delivers to both customers and IMI 24
Slide 25: Combined balancing and control valve
Combined balancing and control valve Combined balancing High flow capability & & control valve performance compact size Excellent controllability at low flows with leak tight close off Laminar Turbulent Choked Pressure Flow Flow Flow Flow Drop Coefficient P2 P1 Cv 25
Slide 26: IMI Benefits
IMI Benefits Market potential increase: 20 to 50% 26
Slide 27: Customer Benefits
Customer Benefits Reduction of space, installation time & costs Pumping power: 10% saving Green building values: Chiller efficiency: New buildings: +10.9% up to 8% saving Retrofits: +6.8% (Mc Graw Hill Construction Report 2010) Room temperature set-point: up to 18% saving / °C Total energy saving 20
Slide 28: 4: Sub-Optimal Design
4: SUB-OPTIMAL DESIGN Consequence of even a small deviation away from the optimum solution 28
Slide 29: Sub-Optimal Design – Beverage Dispense
Sub-Optimal Design – Beverage Dispense Objective: Optimize valve design to control ratio within +/- 2.5% between various syrups and water across wide range of inlet conditions such as pressure and fluid properties over 1.5M cycles. Key parameters optimized: Pressure drop across the valve and Cv (flo
Slide 30: Power Plant Lesson
Power Plant Lesson Customer Challenge: Customer selected new competitor based on lower price and upon plant startup, customer experienced: • Valves sticking and not opening upon demand to protect turbine • Jammed plug in seat from over-pressurization of the actuator and slamming the plug into seat •
Slide 31: Common Fluid Technologies Summary
Common Fluid Technologies Summary Knowledge Management engineering advantage • Design principles Product Technology Laminar Turbulent Choked Pressure Flow Flow Flow Flow Drop Coefficient P2 Cv • Design optimisation tools P1 Computational Statistical Experimental 30 • Benefits of optimised design 28