Business
PAUL MUELLER COMPANY TO ACQUIRE LICENSEE
PAUL MUELLER COMPANY TO ACQUIRE LICENSEE.
About this update from Mueller (paul) Co.
[{"type":"text","content":"Paul Mueller Company (Mueller) has executed a Non Binding Letter of Intent with Rollbas B.V. to purchase all of the outstanding shares of Paltrok Beheer B.V. (Paltrok), which is wholly-owned by Rollbas. Paltrok is the European licensee of Mueller for the manufacture and sale of dairy farm milk coolers using Mueller designs and trademarks. Paltrok's manufacturing facility is located in Lichtenvoorde, The Netherlands. In addition to milk coolers, products fabricated at the facility include processing equipment, beverage equipment, and heat transfer equipment. \n\nThe transaction is subject to the completion of applicable notification requirements, completion of due diligence, execution of a definitive share purchase agreement, approval of relevant authorities, and approval of the Mueller Board of Directors.\n\nMueller is one of the leading manufacturers of processing systems and has invested extensively in equipment and personnel to expand its product and service capability, with a focus on providing customers with a complete project solution. The Company has about 1,000,000 square feet of manufacturing space with more than 1,200 employees. The Company has qualified and experienced employees in product development, engineering, and manufacturing; and it produces stainless-steel systems designed to meet the highest quality standards for a wide variety of industrial applications, including food, dairy, and beverage processing; pharmaceutical, biotechnological, and chemical processing; heat transfer and heat recovery; HVAC; and thermal energy storage and cooling applications on dairy farms worldwide.\n\nThis press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. All statements regarding future performance, growth, conditions or developments are forward-looking statements. Actual future results may differ materially from those described in the forward-looking statements due to a variety of factors, including but not limited to the factors described on page 28 of the Company's 2006 Annual Report. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements to reflect any future events or circumstances.\n\nDONALD E GOLIK\nEXECUTIVE VICE PRESIDENT AND\nCHIEF FINANCIAL OFFICER\n","length":2324,"tagName":"div"}]