Red-White Valve Corp., a leading plumbing and commercial valve manufacturer, announced that is under new ownership. Founded in 1971 as a joint venture of Mitsui & Co., Ltd., and Toyo Valve Co., Ltd., of Japan, the majority of its existing shares were sold to the Italian valve manufacturer Valvoindustria Ing. Rizzio (VIR), headquartered in Valduggia, Italy. The remaining portion will continue to be held by Mitsui Co., & Ltd.