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Anvil Int’l to sell certain assets of Picoma electrical fittings business to John Maneely

17 October 2009 1,284 views No Comment

ATLANTA — Pipe product maker Anvil International LP said Friday it plans to sell some assets of its electrical fittings business, Picoma, to steel pipe producer John Maneely Co.

Under an agreement between the two companies, John Maneely will transfer some assets of Seminole Tubular Products, its plumbing fittings business.

Financial terms were not disclosed.

Anvil is a unit of Atlanta-based Mueller Water Products Inc., which makes infrastructure and flow control products. John Maneely Co. is a subsidiary of the Carlyle Group, a private equity fund.

The transaction is expected to close in mid-November 2009, subject to customary closing conditions.

Shares of Mueller Water Products slid 17 cents, or 3.1 percent, to close Friday at $5.33.

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