IMO INDUSTRIES INC.
                             FORM 8-K CURRENT REPORT
                             DATED November 16, 2000




                                  EXHIBIT 99.1


                      Press Release Dated November 16, 2000



                    FOR IMMEDIATE RELEASE Contact: John Young
                                 (804) 560-4070


                 Imo Industries Inc. Announces Agreement to sell
                Morse Controls Division to Teleflex Incorporated

Richmond,  VA, USA, November 16, 2000. Imo Industries Inc.  announced today that
it had entered into an agreement to sell its Morse Controls division to Teleflex
Incorporated  (NYSE:  TFX) for $135 million in cash. The transaction is expected
to  be  completed  in  January  2001,  subject  to  the  appropriate  regulatory
approvals.

Morse  Controls  has sales of  approximately  $150  million and 9  manufacturing
facilities in North America, Europe and Asia. In addition, Morse is a partner in
two joint  ventures:  NHK Morse in Japan and Shanghai  Dong Feng Morse in China.
Morse Control  manufactures  a variety of  mechanical,  hydraulic and electronic
products  and systems for  industrial,  marine and  aviation  markets.  Specific
products  include engine  controls,  steering  systems,  throttles,  replacement
engine  parts,  industrial  chain and hose products and are sold under the Morse
Controls(R),  Hynautic(R),  Sierra(R),  AquaPower(R),  and Shields Hose(R) brand
names worldwide. Manufacturing facilities included in the sale are Hudson, Ohio;
Litchfield, Illinois; Sarasota, Florida; Clearwater, Florida; Basildon, England;
Marsta, Sweden; Heiligenhaus, Germany; Sydney, Australia; and Singapore.

J.P. Morgan acted as exclusive financial advisor to Imo on the transaction.

Imo Industries Inc. is a privately held company based in Richmond,  Virginia. It
is a leading  manufacturer  of Fluid  Handling and Power  Transmission  products
through its Imo Pump and Boston Gear divisions.