Mueller Water Products Acquires Echologics
Mueller Water Products, Inc. (NYSE: MWA), a leading manufacturer and marketer of products and services that are used in the transmission and distribution of safe, clean drinking water and in water treatment facilities, is expanding its ability to help municipalities rebuild North America’s aging water infrastructure with the acquisition of Echologics Holdings, the parent company of Echologics Engineering Inc.
Mueller Water Products purchased Echologics for $8.0 million in cash in mid-December. The company, which was founded in 2003, will continue to operate under the Echologics name as a division of Mueller Co.
Based in Toronto, Echologics is a leader in the development of water infrastructure diagnostic technologies for water loss management, leak detection and pipe condition assessment. Echologics has pioneered advanced technologies that locate leaks and potential leaks and provide utilities with an assessment of the structural thickness of their pipes using non-invasive acoustic wave analysis.
“The ability to help municipalities identify where leaks are occurring, as well as diagnose the overall condition of their piping systems, is crucial as they repair or replace their aging water infrastructures and better manage their water resources,” said Gregory E. Hyland, chairman, president and chief executive officer of Mueller Water Products. “Echologics enhances our ability to provide municipalities with the essential products and services needed in the transmission and distribution of drinking water.”“We are excited about becoming part of Mueller Water Products and continuing Mueller’s long history of offering municipalities the innovative products they need to keep their water infrastructure systems in optimum condition,” said Marc Bracken, vice president and general manager of Echologics. Safe Harbor Statement This press release contains certain statements that may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that address activities, events or developments that we intend, expect, plan, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on certain assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions and expected future developments. Actual results and the timing of events may differ materially from those contemplated by the forward-looking statements due to a number of factors, including regional, national or global political, economic, business, competitive, market and regulatory conditions and the following:
- the level of spending on water and wastewater infrastructure;
- the demand level of manufacturing and construction activity;
- our ability to service our debt obligations; and
- the other factors that are described in the section entitled "RISK FACTORS" in Item 1A of our most recently filed Annual Report on Form 10-K.
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