Bullish indicating open at $55-$60, IPO prices at $37
Industrial corporation Mueller Industries, Inc. (NYSE: NYSE:MLI) has completed the acquisition of Elkhart Products Corporation (EPC), a U.S. manufacturer known for its copper solder fittings.
To be sure, EPC operates two manufacturing facilities located in Elkhart, Indiana, and Fayetteville, Arkansas.
Mueller's CEO, Greg Christopher, stated that the integration of EPC is anticipated to significantly aid the recovery of Mueller's copper fittings business in Covington, Tennessee, which suffered considerable damage from a tornado in March 2023.
"We expect the addition of EPC to significantly accelerate the recovery of our Covington, Tennessee -based copper fittings business, which was substantially impacted by a tornado in March 2023," said CEO Christopher.
The acquisition is expected to enhance Mueller's existing operations and introduce additional manufacturing capabilities for solder fittings. " The acquisition will expand and complement our current business, while also providing redundant capabilities in the manufacturing of solder fittings," said Christopher.
Mueller Industries is a key player in manufacturing essential goods for various sectors including air, water, oil and gas distribution; climate control; food preservation; energy transmission; and the medical, aerospace, and automotive industries. The company has an extensive network across North America, Europe, Asia, and the Middle East.
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