ATLANTA, June 9 /PRNewswire-FirstCall/ -- Mueller Water Products, Inc.
(NYSE: MWA) announced today that it has filed a universal shelf registration
statement on Form S-3 with the Securities and Exchange Commission ("SEC"). The
shelf registration is subject to review by the SEC. Upon being declared
effective, the shelf registration statement will permit the Company to offer
and sell from time to time, up to $300 million of equity, debt, or other types
of securities described in the registration statement, or any combination
thereof, in one or more future public offerings.
The Company does not currently have any commitments or intentions to sell
securities. Future offerings, if any, will be made only by means of a written
prospectus or other permitted documents. At that time, the Company will file a
prospectus supplement with the SEC outlining the type of securities, amounts,
prices, use of proceeds and other terms.
"While we currently don't have plans to raise additional capital, we
believe having a shelf registration in place is prudent," said Gregory E.
Hyland, chairman, president and chief executive officer of Mueller Water
Products. "The availability of an effective shelf registration statement will
offer us additional flexibility in accessing capital markets over a three-year
period if our strategic needs warrant such access."
Securities may not be sold nor may offers to buy be accepted prior to the
time that the registration statement becomes effective. This news release does
not constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities law of any such state.
Safe Harbor Statement
Except for historical information contained herein, the statements in this
release are forward-looking and made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties that may cause
the actual results in future periods of Mueller Water Products to differ
materially from forecasted results. Those risks include, among others, changes
in customer orders and demand for our products; the liquidity of the credit
markets; changes in raw material, labor, equipment and transportation costs;
pricing actions by the Company and its competitors; changes in law or the
uncertainty of the application of law and regulation; the ability to attract
and retain management and employees; the inability to successfully execute
management strategies with respect to cost containment, production increases
or decreases, inventory control, and the integration of acquired businesses;
and general changes in economic and financial conditions, residential and
non-residential construction, and municipal spending. Risks associated with
forward-looking statements are more fully described in our filings with the
Securities and Exchange Commission. Mueller Water Products assumes no duty to
update its forward-looking statements as of any future date.
About Mueller Water Products
Mueller Water Products is a leading North American manufacturer and
marketer of infrastructure and flow control products for use in water
distribution networks and treatment facilities. Its broad product portfolio
includes engineered valves, fire hydrants, ductile iron pipe and pipe
fittings, which are used by municipalities, as well as the residential and
non-residential construction, oil and gas, HVAC and fire protection
industries. With latest 12 months net sales of $1.7 billion, the Company is
comprised of three operating segments: Mueller Co., U.S. Pipe and Anvil. Based
in Atlanta, Georgia, the Company employs approximately 5,400 people. Mueller
Water Products Series A common stock trades on the New York Stock Exchange
under the ticker symbol MWA. For more information about Mueller Water
Products, please visit the Company's Web site at www.muellerwaterproducts.com.
Investor Contact: Martie Edmunds Zakas
Sr. Vice President - Strategic Planning & Investor Relations
770-206-4237
[email protected]
Media Contact: John Pensec
Director - Corporate Communications & Public Affairs
770-206-4240
[email protected]
SOURCE Mueller Water Products, Inc.
