XML 19 R12.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Debt
6 Months Ended
Jul. 02, 2011
Debt [Abstract]  
Debt
Note 7 – Debt

On March 7, 2011, the Company entered into a Credit Agreement (Credit Facility) with a syndicate of banks establishing a $350 million revolving credit facility, which matures March 7, 2016.  The Credit Facility contains similar provisions and replaces the Company’s prior credit agreement dated December 1, 2006.

Mueller–Xingrong is negotiating with a syndicate of banks to renew its JV Credit Agreement which expired July 16, 2011.  Borrowings under the JV Credit Agreement remain outstanding during the negotiations.  The Company expects Mueller–Xingrong will enter into a new JV Credit Agreement under terms similar to the expired JV Credit Agreement during the third quarter of 2011.