Anvil International to Sell Assets of Its Picoma Business to John Maneely Company
October 16 2009 - 1:35PM
PR Newswire (US)
ATLANTA, Oct. 16 /PRNewswire-FirstCall/ -- Anvil International,
L.P. ("Anvil"), a wholly owned subsidiary of Mueller Water
Products, Inc. (NYSE: MWA) and John Maneely Company ("JMC") have
entered into a definitive purchase and sale agreement pursuant to
which Anvil will sell certain of the assets of Picoma, its
electrical fittings business, to JMC. Under the agreement, JMC will
transfer certain of the assets of Seminole Tubular Products, its
plumbing fittings business. The financial terms of the agreement
were not disclosed. The parties expect the transaction to close in
mid-November 2009, subject to customary closing conditions. Based
in Waynesboro, Pennsylvania, Picoma manufactures electrical conduit
fittings and couplings. Eighty-five employees are associated with
the Picoma business. Safe Harbor Statement Except for historical
information contained herein, the statements in this release are
forward-looking and made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and
uncertainties that may cause the actual results in future periods
of the Company to differ materially from forecasted results. Those
risks include, among others, changes in customer orders and demand
for our products; the liquidity of the credit markets; changes in
raw material, labor, equipment and transportation costs; pricing
actions by the Company and its competitors; changes in law or the
uncertainty of the application of law and regulation; the ability
to attract and retain management and employees; the inability to
successfully execute management strategies with respect to cost
containment, production increases or decreases, inventory control,
and the integration of acquired businesses; and general changes in
economic and financial conditions, residential and non-residential
construction, and municipal spending. Risks associated with
forward-looking statements are more fully described in our filings
with the Securities and Exchange Commission. The Company assumes no
duty to update its forward-looking statements as of any future
date. About Mueller Water Products, Inc. Mueller Water Products,
Inc. is a leading North American manufacturer and marketer of
infrastructure and flow control products for use in water
distribution networks and treatment facilities. Its broad product
portfolio includes engineered valves, fire hydrants, ductile iron
pipe and pipe fittings, which are used by municipalities, as well
as the residential and non-residential construction, oil & gas,
HVAC and fire protection industries. With latest 12 months net
sales as of June 30, 2009 of $1.6 billion, the Company is comprised
of three operating segments: Mueller Co., U.S. Pipe and Anvil.
Based in Atlanta, Georgia, the Company employs approximately 5,300
people. Series A common stock trades on the New York Stock Exchange
under the ticker symbol MWA. For more information about Mueller
Water Products, Inc., please visit the Company's Web site at
http://www.muellerwaterproducts.com/. About John Maneely Company
JMC is the largest independent tubular manufacturer in North
America, with the most diverse product platform in the North
American pipe and tube industry. Through its Wheatland and Atlas
Tube divisions, it maintains a #1 market position in North America
in each of its three core product categories: Hollow Structural
Sections (HSS), standard pipe and electrical conduit. Formed
through the combination of John Maneely Company and Atlas Tube in
December 2006 and headquartered in Beachwood, Ohio, JMC operates
eleven plants in five U.S. states and one Canadian province and has
a total production capacity of more than 3 million tons of steel
pipe and tube per annum. For Mueller Water Products, Inc. Investor
Contact: Martie Edmunds Zakas Sr. Vice President - Strategic
Planning & Investor Relations 770-206-4237 Media Contact: John
Pensec Director - Corporate Communications & Public Affairs
770-206-4240 For John Maneely Company Media Contact: Christopher W.
Ullman Director of Global Communications The Carlyle Group
202-729-5450 DATASOURCE: Mueller Water Products, Inc. CONTACT:
Investor: Martie Edmunds Zakas Sr. Vice President - Strategic
Planning & Investor Relations, +1-770-206-4237, ; Media: John
Pensec Director - Corporate Communications & Public Affairs,
+1-770-206-4240, , both of Mueller Water Products, Inc.; Media:
Christopher W. Ullman, Director of Global Communications, The
Carlyle Group, +1-202-729-5450, , for John Maneely Company Web
Site: http://www.muellerwaterproducts.com/
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