In October, Murray Irrigation announced they would sell the prefabricated concrete manufacturing business, MILCast.

At the time MILCast, a major employer for Finley, employed 17 people.

Murray Irrigation chairman Phil Snowden said in October, given the climate of drought the company must focus on water.

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On Tuesday, he said deal with Shepparton-based Gradian Group was expected to be finalised early next week.

"It was important for us to find a new owner who was committed to the local community and who understood the importance of supporting local employment and investing in regional development," he said.

"Especially given the pressures the ongoing drought is placing on farming communities."

Mr Snowden said Murray Irrigation would remain a customer of MILCast.

Gradian Group co-owner Mathew Ryan grew up in regional Victoria and NSW.

"My family is a generational farming family from around Berrigan, Deniliquin and Shepparton, so I understand the importance of local business and what it means for local communities," he said.

Co-owner Deepak Singh said the company has experience in construction and has used MILCast products.