MWA - Mueller Water to close plants in Illinois Canada in restructuring

Mueller Water Products (MWA) says it will close plants in Aurora, Ill., and Surrey, B.C., as part of its multi-year plan to modernize its manufacturing facilities and processes.Most activities from the plants will be consolidated into the new facility in Kimball, Tenn., which focuses on specialty valves and works closely with the company's foundries in Chattanooga, Tenn., and Albertville, Ala.Mueller expects $14M in related restructuring costs, with ~$4.5M in non-cash charges.The company says it will begin implementing the restructuring immediately and expects to substantially complete it by Q3 2022.Mueller's manufacturing upgrade program has inflated capex but should drive better margins and new sales opportunities over time, Stephen Simpson writes in a bullish analysis posted on Seeking Alpha.

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Mueller Water to close plants in Illinois, Canada in restructuring