McJunkin Red Man Corp. has acquired Stainless Pipe and Fittings Australia Pty Ltd as part of its strategy to be the world’s premier PVF distribution company.
Red Man Corp. (MRC) announced signing an agreement to acquire Stainless
Pipe and Fittings Australia Pty Ltd (SPF), as part of its strategic vision to
be the world’s premier PVF distribution company to the energy and industrial
markets. SPF will operate as MRC SPF, effective by the
end of June when the transaction closes.
founded in 1996, is the largest distributor of stainless steel piping products
in the southern hemisphere. Headquartered in Perth,
Western Australia, SPF has seven locations
across Australia as well as Korea, Italy,
UK and United Arab Emirates.
state-of-the-art, 430,000-sq.-ft. facility based in Perth would become MRC’s
premier pipe, fittings and flange (PFF) stocking and distribution center for
Australasia. Complementing the Perth facility
are two additional stocking locations in Australia,
as well as strategically placed stockholdings in the Jebel Ali Free Zone, UAE
and in the UK.
SPF would increase MRC’s global PFF stockholding in stainless steel to a value
in excess of US$50 million, with global stainless PFF sales of more than US$300
million. The acquisition would also complement MRC’s 2009 purchase of Transmark
Fcx (MRC Transmark), a leading valve distributor in the eastern hemisphere.
McJunkin Red Man Corp.
McJunkin Red Man To Acquire Stainless Pipe and Fittings Australia
May 26, 2011