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Mueller will recognize a gain on the sale ofabout $30 millionm after tax, or 80 cents per in the fiscal quarter ended September 28. Closing is conditioned upon approval of the SurfaceTransportation Board, among other things. Mueller says it anticipates the board'd approval on an expedited basis. Mueller chairmahn Harvey Karp says the sale of Utah Railwayconcludes Mueller's plan to dispose of non-core businesss assets. The transaction will increase the company's cash position by aboutt $50 million, he says. Mueller Industriesa is a manufacturerof copper, brass, plastic and aluminum Previously based in Kan.
, Mueller relocated its headquarters to Memphisa in 1996 to be closer to its main plants in the Tennessee and Michigan. In all, the companyg operates nine plantsin Tennessee, Mississippu and Arkansas. Greenwich, Conn.-based Genesee & Inc., is a world-class provider of rail-freight transportation and itssupportinfg services. It functions as a holding company with subsidiaries that own and operatw regionalfreight railroads. The company owns or has interestse in more than 20 railroads in theUnitedd States, Canada, Mexico, Bolivia and It operates more than 8,000 miles of owned and lease track, with access to an additional 2,350 miles througb track access arrangements.
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