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Engineering firm IMI begins restructuring Swiss ops

Reuters

(Reuters) - Engineering firm IMI Plc (IMI.L) said it began restructuring its operations in Switzerland in a move aimed at countering pressure on margins across products.

The company, which makes flow control systems such as valves for power and petrochemical plants, said the restructuring is expected to help the company report improved revenue and margins in the second half of the year.

IMI has been impacted by its exposure to the oil and gas markets and slowing orders as clients tightened purse-strings.

(Reporting by Vidya L Nathan in Bengaluru, Editing by Sunil Nair)