TAMPA, Fla., April 26 /PRNewswire-FirstCall/ -- Walter Industries, Inc. (NYSE: WLT) announced today that Mueller Water Products has selected Atlanta as its new corporate headquarters location. Walter Industries is in the process of transforming Mueller Water Products into a separate, Fortune 1,000- sized, publicly traded company via an initial public offering by mid-year and spin-off to Walter Industries shareholders by late 2006.
" Atlanta will be a great fit for Mueller as its headquarters location," said Walter Industries Chairman and CEO Gregory E. Hyland. "The city is a magnet in the south for other large corporations, has a major international airport and is within a two-hour drive of several of our key manufacturing facilities."
Hyland said he expected this announcement to have minimal impact on the existing headquarters staffs of Walter Industries in Tampa, Fla., Mueller Water Products in Decatur, Ill., U.S. Pipe in Birmingham, Ala. and Anvil in Portsmouth, N.H.
"Several employees will have the opportunity to join the new corporate headquarters, but we expect the overall impact to our current staff to be minimal," Hyland said.
The Company expects the new headquarters to be established and staffed by the end of the year.
"I am proud to welcome Mueller Water Products to the Georgia business family," said Georgia Gov. Sonny Perdue. "Mueller has selected an ideal location to grow and thrive. Our state's world-class business climate offers the perfect environment for a great company like this to succeed."
"This is another significant headquarters win for metro Atlanta and Georgia," said Sam A. Williams, president of the Metro Atlanta Chamber of Commerce. "Mueller chose Atlanta for the same reason so many other companies do. We're the hub of the fastest growing region of the country. We're close to their manufacturing facilities across the southeast, and our international airport gives them access to their customers worldwide. As an added benefit, Atlanta will gain leadership and expertise in an area important to us -- water infrastructure."
Walter Industries, Inc. is a diversified company with annual revenues of $3.0 billion. The Company is a leader in water infrastructure, flow control and water transmission products, with respected brand names such as Mueller, U.S. Pipe, James Jones, Henry Pratt and Anvil. The Company is also a significant producer of high-quality metallurgical coal and natural gas for worldwide markets and is a leader in affordable homebuilding and financing. Based in Tampa, Fla., the Company employs approximately 10,000 people. For more information about Walter Industries, please visit the Company Web site at http://www.walterind.com .
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The Metro Atlanta Chamber of Commerce (MACOC) -- with our 4,000 member companies that collectively employ more than 700,000 workers -- is a catalyst for a vibrant metro region. The Metro Atlanta Chamber focuses on the issues that matter most to the business community: improving quality of life, promoting economic growth and making Atlanta a brand name that means opportunity.
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