Watts Water Technologies, Inc. (NYSE: WTS) completed the previously announced sale of non-core product lines to Sioux Chief Mfg. Co., Inc. in an all-cash transaction of $35.5 million. The sale covers certain assets related to Watts Water's brass fittings, brass & tubular and vinyl tubing product lines.
Located in Peculiar, MO, Sioux Chief Mfg provides rough plumbing products and solutions for residential, commercial, industrial and government applications. The transaction corresponds to Phase 1 of the company's Americas transformation effort, which is expected to deliver sustainable margin expansion in 2016 and beyond.