Mueller Streamline Co history

Mueller parlayed these inventions into manufacturing facilities, and in 1893, with $68,000 in capital, he incorporated his business in Michigan as the H. Mueller Manufacturing Company.

When that plant opened on December 17, 1917, the business was reincorporated as Mueller Metals Company.

1930: Mueller Brass introduces the revolutionary Streamline solder-type pipe fitting.

Founded in 1948, Precision Tube produced copper, copper alloy, and aluminum tubing and fabricated tubular products, with its main product line being copper tubing for the baseboard heating industry.

He bought, and later sold, Sheet Aluminum Corporation, of Jackson, Mississippi, and in March 1958, he acquired American Sinteel Corporation, a Yonkers, New York, manufacturer of powder metal parts.

Mueller continued to grow, reporting profits of $2.35 million on sales of $80.8 million in 1963.

In 1967 the company began to offer plastic pipe and fittings.

In 1969, after Horwitz invested $17 million in Mueller's interests and $16 million in the copper mine, USSRAM's sales reached an all-time high of $170 million, while income hit a record $12 million.

1970: USSRAM changes its name to UV Industries, Inc.

By 1976, however, slow housing starts had led to a performance that, while acceptable, was nowhere near what it might be in a boom economy.

Finally, on November 26, 1979, it was agreed that Sharon would acquire UV for an interim note worth $517 million and the assumption of UV's liabilities.

The company's debts were too high, and in 1985, Sharon defaulted on $33 million in interest payments.

1987: Sharon Steel files for bankruptcy; Mueller remains a viable enterprise and does not file for Chapter 11.

Almost all of the 1991 loss was due to a revaluation of assets, coupled with costs related to the bankruptcy proceeding and restructuring of the business following the reorganization.

Karp's efforts paid off handsomely--for the year ended 1992, earnings were up significantly, reaching $16.6 million on sales of $517.3 million.

Then in 1994 Mueller bought Quantum's remaining 9.6 percent stake for $25.9 million.

The move, completed in May 1996, was taken in order to place the head office closer to Mueller's core manufacturing operations in Tennessee and Mississippi.

Finally, in November 1998 Mueller completed the acquisition of Halstead Industries, Inc. for about $92 million in stock.

Mueller recorded its sixth straight year of revenue growth and its eighth consecutive year of earnings growth in 1999.