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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/firm-to-be-booted-out-of-ftse-100.jpg"><img class="alignnone size-full" title="Cobham is facing relegation from the FTSE 100" src="http://londonglossy.com/wp-content/uploads/2010/12/min-firm-to-be-booted-out-of-ftse-100.jpg" alt="Cobham is facing relegation from the FTSE 100"/></a></p>
<p>Defence firm Cobham is facing relegation from London&#8217;s blue chip share index as part of the latest FTSE 100 reshuffle.</p>
<p>The FTSE Group confirmed the military kit manufacturer is the only company likely to leave the index after seeing its shares plunge more than 30% since April.</p>
<p>The quarterly review is based on Tuesday&#8217;s closing prices and will be confirmed on Wednesday after scrutiny by the FTSE committee, to take effect after the market close on December 17.</p>
<p>Those blue chip stocks that have fallen to below 111th place in the top tier are at risk of being kicked out each quarter.</p>
<p>Cobham&#8217;s woes come after it revealed revenues at its manufacturing divisions, which account for 87% of its turnover, were down in the first nine months.</p>
<p>The Dorset-based firm makes a wide range of products for the defence and civil aviation industries, as well as equipment to Nasa, including breathing apparatus for astronauts. It makes more than 55% of its revenues from the United States.</p>
<p>The company turns over about £1.9 billion a year and employs about 12,000 staff worldwide, with about 2,500 working in the UK in sites including Wimborne, Darlington, Marlow and Milton Keynes.</p>
<p>Cobham is likely to be replaced by engineering firm IMI, which has seen shares climb 85% in value over the last year.</p>
<p>The Birmingham-based firm develops valves for power plants and oil and gas production facilities, and builds climate and energy management equipment, as well as beverage cooling equipment for caterers and retailers.</p>
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