Plumbing supplies group Reliance Worldwide will buy Melbourne company LCL, which makes copper-based alloys and is the main supplier of brass to the Australian operations of Reliance.
Reliance, with a sharemarket capitalisation of $4.2 billion, will pay $37 million for LCL which has two manufacturing sites in Melbourne, at Moorabbin and Dandenong South.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
