IMI recorded US$575.5 million in consolidated sales revenues in 2011, a 40 percent increase from US$412.3 million in 2010, despite a challenging business environment marked by calamities in Japan and Thailand that affected component supply, and the global financial crisis that softened the demand for electronics products.
The increase in the company's revenue is largely attributed to the increase in turnkey business in China, the strong growth in the automotive and industrial segments, and additional revenues from PSi Technologies, Inc. and IMI's new entities in Europe and Mexico.
In end-July 2011 IMI completed the acquisition of EPIQ subsidiaries in Bulgaria, the Czech Republic, and Mexico. With 17 manufacturing sites around the world, IMI has enhanced its capabilities, providing solutions to OEMs catering to regional and international markets.
"The variety of locations leads to a diversity in markets and operations, and in increase in programs to accommodate the needs of a wider client base. This will help ensure greater stability for IMI, as cultivating a broader, healthier mix clients is certain to protect the company from the effects of market downturns, " said Tan.
Moving forward, IMI will focus on significant emerging applications in electronics in accordance with is goal to grow as a company driving innovation.
Tan said, "We anticipate to profit from increasing automotive electronic content through the development of driver assistance systems, safety-related control devices, electronic steering modules, and ignition modules."
IMI is also ready to provide advanced power packaging, power modules, and next-generation inverters for hybrid and electric vehicles.
According to Tan, "With the emergence of new applications of electronics for the industrial and medical fields, IMI will benefit from ventures with high-technology makers of accelerometers, smart meters, deep sea oil-drilling sensors, and medical camera pills."
In support of the world's transition to a low-carbon society, IMI will continue to engage in the development and manufacture of photovoltaic (PV) modules. Tan said, IMI is working toward more sustainable solar markets in the future, such a s Concentrated Photovoltaics (CPV), a type of solar technology that uses mirrors to focus and capture more energy from available sunlight in a given areas."
Tan added, "IMI through PSI Technologies, Inc. is involved in the development of LED prototype that will replace that will replace the incandescent bulb and drive down costs."
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