Mueller Industries says Covington plant damaged by tornado on Friday

Mueller Industries announced that its manufacturing plant located in Covington, Tennessee, was damaged by a tornado on Friday evening. All employees were safely located in shelters and were without injury. The extent of the damage is presently being assessed. The plant is one of our facilities that produces copper fittings, which are primarily used in building construction applications. The Company has implemented plans to reallocate production to other Mueller facilities, relocate equipment to temporary alternative facilities, and secure third party sourcing arrangements. Along with existing inventories, the Company expects to provide ongoing and reliable supply to its customers. Finished goods were stored in distribution centers away from the Covington site, and those facilities are operating normally. The losses, both property damage and business interruption, are expected to be covered by existing insurance policies and programs. Therefore, the Company believes that the impact of the tornado on the Company’s financial results should be immaterial.