MUELLER INDUSTRIES INC acquired Jiangsu Mueller-Xingrong Copper Industries Limited (China joint venture) for approximately $19.4 million contributed in cash (50.5% interest), a transaction completed in December 2005, structured as cash + asset contributions. The deal was a Joint venture.
Jiangsu Mueller-Xingrong Copper Industries Limited (China joint venture) operates in Piping Systems (China), is based in Jiangsu Province, People's Republic of China. Mueller Streamline China, LLC and Mueller Streamline Holding, S.L. established a joint venture with Jiangsu Xingrong Hi-Tech Co., Ltd. and Jiangsu Baiyang Industries Ltd. named Jiangsu Mueller-Xingrong Copper Industries Limited, to design, market and manufacture commercial copper tube and related products for air conditioning applications, primarily for the People's Republic of China.
Majority-owned manufacturing presence serving the Chinese air-conditioning copper tube market. Complements Mueller's U.S. product line. Piping Systems segment (Mueller-Xingrong, China JV)
On December 5, 2005, Mueller Streamline China, LLC and Mueller Streamline Holding, S.L., subsidiaries of Mueller Industries, Inc., received a business license... establishing a joint venture... named Jiangsu Mueller-Xingrong Copper Industries Limited, to design, market and manufacture commercial copper tube and related products for air conditioning applications. The Company's Subsidiaries will contribute to the Joint Venture approximately U.S. $19,400,000 in cash... the Joint Venture will be owned 50.5% by the Company's Subsidiaries.Mueller Industries Form 8-K, December 9, 2005
Advisory firms were not disclosed for this transaction.