Zurn Industries Sold
Zurn has been a major corporate name in the Erie region for more than 100 years.
Wednesday, the company...which was bought by Jacuzzi Brands, but still has a corporate office and a foundry in Erie, apparently has a new owner.
Apollo Management has agreed to purchase Jacuzzi, including Zurn, for 1.25 billion dollars.
The deal will pay shareholders $12.50 per share and officials expect it to be finalized by early 2007.
Employees in Erie have been told day-to-day operations will remain "very much the same".
There was no comment from Zurn management or employees today.
