Walter Industries Acquires Water, Wastewater Valve Producer CCNE

Tampa, Fl — Walter Industries, Inc. has announced that its Mueller Water Products subsidiary purchased the operating assets of CCNE, L.L.C. (CCNE) for approximately $8.8 million.

Based in Vernon, Conn., CCNE is a privately held contract producer and distributor of check valves used in water and wastewater treatment and distribution systems. The CCNE operations and assets will be consolidated into Milliken Valve Company's Bethlehem, Penn. facility. Milliken is a wholly-owned subsidiary of Mueller.

"The CCNE transaction represents another step in our strategy to pursue bolt-on acquisitions that broaden our water infrastructure product line," said Gregory E. Hyland, chairman and chief executive officer of Walter Industries. "CCNE's check valves are highly-regarded in the water and wastewater treatment industries. These check valves complement our Henry Pratt and Milliken product offerings and strengthen our position as a leader in valves for the water and wastewater treatment markets."

SOURCE: Walter Industries, Inc.