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8-K - FORM 8-K - MRC GLOBAL INC. | y92148e8vk.htm |
Exhibit
99.1
MRC©
McJunkin
Red Man
Corporation
Red Man
Corporation
Media
Contact:
Elaine Michael
Vice President-marketing
Elaine.Michael@mrcpvf.com
(832) 348-4936
Elaine Michael
Vice President-marketing
Elaine.Michael@mrcpvf.com
(832) 348-4936
Press
Release
FOR IMMEDIATE RELEASE
July 22, 2011
MCJUNKIN RED MAN CORPORATION ANNOUNCES THE SIGNING OF AN AGREEMENT TO ACQUIRE CURTISS-WRIGHTS
VALVE DISTRIBUTION BUSINESS
Houston, TX July 22, 2011 McJunkin Red Man Corporation (MRC®) today announced the
signing of an asset purchase agreement for the acquisition of the operations and assets of the
legacy distribution business of the Valve Systems and Controls (VSC) business unit of Curtiss-
Wright Flow Control Corporation.
This transaction is expected to close by the end of July.
Since 1974, VSC has specialized in providing high quality valve and valve automation solutions to
the energy and industrial markets by combining the newest technological innovations with excellent
customer service. VSCs expertise in project upstream valve automation and MRO downstream
automation, in particular, will strengthen MRCs overall valve capabilities.
In addition to its Houston headquarters, VSC also operates a sales office in Baton Rouge,
Louisiana. Led by Lance Lorance, who will join the MRC management team, VSCs employees are highly
skilled engineers, technicians, sales and warehousing professionals. VSC has built a reputation of
excellence by specializing in the design and assembly of custom valve automation packages with
single source responsibility for electric, gear operated, hydraulic and pneumatic control
applications.
This acquisition is another step toward MRC providing the most complete valve solution
capabilities in the industry worldwide, Rory Isaac, MRC Executive Vice President of Business
Development said. VSCs ability to customize valve orders to fit nearly any flow control need is
a significant skill that is valued by our customers. We are very pleased to welcome Lance Lorance
and the entire VSC team to MRC.
Headquartered in Houston, Texas, MRC is the largest global distributor of PVF and related products
and services to the energy and industrial sectors, based on sales, and supplies these products and
services across each of the upstream, midstream and downstream markets. More information about
MRC can be found on its website at www.mrcpvf.com.
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