Subsequent Event

9 Months Ended

Sep. 28, 2013

Subsequent Event [Abstract]

Subsequent Event [Text Block]

Note 13 – Subsequent Events

On October 17, 2013, the Company entered into a Stock Purchase Agreement with Commercial Metals Company and Howell Metal Company (“Howell”) providing for the purchase of all of the outstanding capital stock of Howell.  Howell manufactures copper tube and line sets for U.S. distribution.  The purchase price of $58.5 million was funded by cash on-hand.  This is subject to a customary working capital adjustment.  For the twelve months ended August 31, 2013, Howell’s net sales for copper tube and line sets were $156.3 million.

On October 18, 2013, the Company entered into a definitive agreement with KME Yorkshire Limited (“Yorkshire”) to acquire certain assets and assume certain liabilities of Yorkshire for purposes of acquiring its copper tube business.  The consummation of the transaction is subject to the receipt of regulatory approval in the United Kingdom and other customary closing conditions.  Yorkshire produces European standard copper distribution tubes.  The purchase price will be £18.0 million.  In 2012, Yorkshire had annual revenue of £119.0 million.