August 21, 2008 - Modern Distribution Management

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August 21, 2008

McJunkin Red Man Corp. Files for Public Offering

Leave a Comment / Top Distributor Sectors, Subscriber Only, News, Mergers & Acquisitions, Free, Finance, Companies /

McJunkin Red Man has registered with the SEC for an initial public offering of its common stock for $750 million. The company will be listed under the symbol MRC."

McJunkin Corp. and Red Man Tool and Supply merged in late 2007. At the time, Goldman Sachs owned a majority share of McJunkin.

McJunkin Red Man is a distributor of industrial and oilfield pipe, valve and fittings in North America, operating 250 locations in the U.S., Canada, Nigeria and Puerto Rico. The company has a significant presence in the oil and gas, chemical and petrochemical, refining processes, power company, manufacturing and mining industries. According to the SEC filing, the company said it generates about 90% of its sales from the energy industry.

 
In the SEC ...

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MAPI Forecast: GDP Growth Will Slow in 2008 and 2009

Leave a Comment / Subscriber Only, Research & Analytics, News, Free, Economic Trends /

The weakness in the U.S. economy shows no signs of immediate abatement, and significant challenges may last well into 2009, according to a new report.

The Manufacturers Alliance/MAPI Quarterly Economic Forecast predicts that inflation-adjusted gross domestic product (GDP) growth will slow to 1.6% in 2008 and decelerate to 1.3% in 2009. The 2009 GDP forecast is down from 1.9% growth projected in MAPI's May report.

The Internal Revenue Service accelerated the payment of tax rebates this year under the economic stimulus plan, getting cash in consumers'hands earlier than expected,"said Daniel J. Meckstroth, Manufacturers Alliance/MAPI chief economist. "The cash windfall is only temporary, and we expect a corresponding decline in spending in fourth quarter 2008 and into ...

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