McJunkin Red Man Agrees to Buy OneSteel Piping Systems

Resource from: McJunkin Red Man Holding Corp. Likes:2977

Jan 05,2012

(January 4, 2012) PVF products distributor McJunkin Red Man Holding Corp., No. 5 on MDM’s list of the top 40 industrial distributors, has agreed to acquire OneSteel Piping Systems for $67.7 million, continuing its expansion internationally. Effective as of closing, OPS will operate as MRC Piping Systems Australia. This Sydney-based acquisition follows the acquisition of Melbourne-based MRC Transmark Australia in October 2009, and Perth-based MRC SPF in June 2011. Formed in 2001 as a merger between Tubemakers Piping Systems and Pipeline Supplies Australia, OPS operates as a division of OneSteel Limited’s Australian distribution business. OPS is a PVF product and service specialist supplying the oil and gas, mining and mineral processing industries. OPS has a nationwide distribution network with 12 sites in Queensland, New South Wales, Victoria, South Australia, Western Australia and Northern Territory. MRC, with $4.6 billion in revenue over the prior four quarters, has more than 400 global service locations.

(McJunkin Red Man Holding Corp.)

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