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MRC sheds tubular business to Marubeni-Itochu's Sooner Pipe

Feb 12, 2016 - The Deal Pipeline

Houston pipe, valve and fittings distributor MRC Global Inc. (MRC) said after the markets closed Wednesday, Feb. 10, that it has agreed to sell its oil country tubular goods business in the U.S. to Sooner Pipe LLC for $48 million.

MRC said the unit generated sales of $305 million last year. It anticipated it would close the deal in the first quarter and book a pretax charge of around $5 million on the sale. Sooner Pipe is a unit of Marubeni-Itochu Tubulars America Inc. The sell...