MRC Global Inc. – MRC – To Acquire Assets Of Chaparral Supply
MRC Global Inc. (NYSE: MRC) announced that it has signed an agreement to acquire the majority of the operating assets of Cherokee, Oklahoma based Chaparral Supply, LLC, a wholly owned subsidiary of SandRidge Energy, Inc (NYSE:SD). Chaparral Supply provides pipe, valve and fitting (PVF) products and oilfield supplies to its parent organization, SandRidge Energy. MRC plans to merge Chaparral’s employees and certain inventories and other assets with the Company’s existing Alva, Oklahoma service location. The acquisition is subject to customary closing conditions and is expected to be completed in June 2012.
Additionally, as part of the acquisition, MRC and SandRidge Energy have agreed to enter into a supply agreement whereby MRC will serve as the primary pipe, valve and fitting (PVF) product and oilfield supply distributor to SandRidge’s operations in Oklahoma and Kansas.
“We are very pleased with the confidence that SandRidge Energy has shown in MRC,” stated MRC COO – North America James Underhill. “We look forward to providing value to their operations through our global purchasing strength, efficient processes and local service capabilities in the rapidly growing and strategically important Mississippian Lime formation.”
About MRC Global, Inc. – MRC
Headquartered in Houston, Texas, MRC, a Fortune 500 company, is the largest global distributor of pipe, valve, and fittings (PVF) and related products and services to the energy industry, based on sales, and supplies these products and services across each of the upstream, midstream and downstream sectors.
MRC Global Inc., formerly known as McJunkin Red Man Holding Corporation is a holding company. The Company is the distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry.
MRC operates in two segments: North American segment and International segment. Its North American segment includes over 180 branch locations, six distribution centers in the United States, one distribution center in Canada, 11 valve automation service centers and over 170 pipe yards located in the oil and natural gas regions in North America. Its International segment includes over 40 branch locations throughout Europe, Asia and Australasia with distribution centers in each of the United Kingdom, Singapore and Australia and 10 automation service centers in Europe and Asia. On June 9, 2011, it acquired Stainless Pipe and Fittings Australia Pty. Ltd. (MRC SPF). On July 22, 2011, it acquired Valve Systems and Controls (VSC).
More Posts by this author
- Gold Prices Settle Higher
- Stocks End Sharply Higher on Reports of Coordinated Action from Central Banks
- Stocks Headed for a Higher Finish
- EQT VI to acquire Vertu from Nokia – NOK
- Salesforce.com – CRM – and Twitter Global Strategic Alliance
- Vascular Solutions – VASC – Acquires Accumed Radial Access Wrist Splint Product
- Arkansas Best Corporation – ABFS – Agrees To Acquire Premium Logistics Company Panther Expedited Services
 |
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
|
