Walter Industries is a diversified company and a significant producer of high-quality metallurgical coal for worldwide markets and is a leader in homebuilding and financing. Founded in 1946, the Tampa, Fla.-based company had approximately $2.1 billion in 2005 revenues.

In December 2006, Walter Industries spun off its Mueller Water Products business, a leading supplier of flow control products for the water transmission industry.

Jim Walter Resources, which operates three underground coal mines in Brookwood, Ala., comprises the Natural Resources segment. At about 2,000 feet below the surface, these mines are some of the deepest underground coal mines in North America.

The largest company in the Homebuilding segment is Jim Walter Homes, the nation’s leading on-your-lot, affordable homebuilder, satisfying more than 350,000 new homeowners since 1946 with solid, board-by-board construction.

In the Financing segment, Mid-State Homes services the mortgages provided to the Homebuilding segment’s traditional on-your-lot buyers, while another subsidiary, Walter Mortgage Company, offers land/home financing.

Walter Industries also operates Sloss Industries, a Birmingham-based furnace and foundry coke, slag wool and specialty chemicals manufacturer.