Zurn Elkay Water Solutions Corporation Announces Divestiture Of Four Wholly-Owned Subsidiaries That Hold Asbestos Liabilities And Related Assets And Certain Other Assets And Liabilities, To Zilco Holdings, Inc.

Zurn Elkay Water Solutions Corporation -0.18%

Zurn Elkay Water Solutions Corporation

ZWS

45.02

-0.18%

Zurn Elkay Water Solutions Corporation ("Zurn Elkay") (NYSE:ZWS) announced that it divested four wholly-owned subsidiaries that hold asbestos liabilities and related assets and certain other assets and liabilities, to Zilco Holdings, Inc. ("Zilco Holdings"). The four divested subsidiaries are Zurn Industries, LLC, OEI, LLC, OEP, LLC and Krikles, Inc.

As a result of the divestiture, all asbestos liabilities and related insurance assets will not be included in Zurn Elkay's consolidated year-end 2023 balance sheet.

Existing employees, customers and vendors of Zurn Elkay will experience no change in their business interactions with Zurn Elkay as a result of the divestiture.

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