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McJunkin Red Man Agrees to Buy Production Specialty Services

McJunkin Red Man Corp., the U.S. operating subsidiary of MRC Global Inc. (NYSE: MRC), Houston, TX, has agreed to acquire Production Specialty Services, Inc., Midland, TX. Production Specialty Services supplies pipe, valves and fittings as well as other MRO products to the oil and gas industry.

Production Specialty Services operates 17 service locations, including one distribution center, in the Permian Basin and Eagle Ford shale regions of Texas and New Mexico. With the acquisition, MRC will have a service location network of 23 branches and one major distribution center supporting the Permian Basin energy infrastructure activity.

"This acquisition is part of MRC's continued commitment to support our customers' growth in a major oil producing region of the U.S.," Andrew R. Lane, MRC president and CEO, said.

Production Specialty Services has projected 2012 revenue of $127 million.

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