MRC Global Inc. (NYSE: MRC) announced May 29 that MRC Global's Singapore subsidiary, MRC Transmark Pte. Ltd., has acquired MSD Engineering (Pte) Ltd.
Located in Singapore, MSD Engineering is a major distributor and regional service provider of valve and valve automation solutions to customers in Singapore, Brunei, China, Malaysia, Indonesia, Thailand, Vietnam and Taiwan. MSD Engineering had 2013 sales of $26 million, and will now operate as MRC MSD Engineering.
"This acquisition complements our current MRC Transmark valve business in Southeast Asia and is consistent with our announced strategy to grow our valve and valve automation business and to expand geographically into Southeast Asia and in the other key energy regions around the world," Andrew Lane, MRC Global chairman, president and CEO, said in a May 29 press release. "The addition of MRC MSD Engineering broadens our geographic footprint and existing valve brands and product line offerings in Southeast Asia."
Headquartered in Houston, MRC Global is the largest global distributor of pipe, valves, and fittings 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.
Recommended Reading
OPEC+ Working on Complex Oil Cut Extension Deal for 2024-2025, Sources Say
2024-05-30 - The OPEC+ deal might include extending some or all of the current voluntary production cuts of 2.2 MMbbl/d.
US NatGas Prices Rise More Than 2% on Hot-weather Forecasts
2024-07-12 - U.S. natural gas futures rose more than 2% on July 12 after touching their lowest in close to two-months earlier.
Future Permian Gas Pipeline May Have a Difficult Route to Follow
2024-05-22 - Kinetik Midstream’s CEO Jamie Welch sees more expensive and longer pipeline paths causing complications for midstream companies.
Exxon's Joliet Refinery Units Down for a Week, Plans for Restart in Late July, IIR Says
2024-07-17 - A severe storm passed through Joliet earlier this week, leaving thousands without power.
AltaGas, Royal Vopak Reach FID on LPG Exporting Facility in Canada
2024-05-30 - The energy exporting facility will be developed on Ridley Island, British Colombia, on a 190-acre site adjacent to AltaGas and Vopak’s existing propane exporting terminal.