Red-White Valve Corp. has sold the majority of its existing shares to the Italian valve manufacturer Valvoindustria Ing. Rizzio (VIR). The remaining shares shall continue to be held by Mitsui & Co., which co-founded Red-White in 1971 as a joint venture with Toyo Valve Co.

VIR was also founded in 1971 and is headquartered in Valduggia, Italy. The company specializes in bronze and brass valve production.