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In The News:

McJunkin Red Man Agrees to Buy Dresser Oil Tools & Supply

McJunkin Red Man Corp., Houston, TX, No. 5 on MDM's list of top 40 industrial distributors, has agreed to acquire operations and assets from Dresser Oil Tools & Supply. Dresser has four branches in North Dakota and one in Tioga, MT.

The operations and assets to be purchased by MRC relate to the business of the sale and distribution of pipe, valves and fittings, oilfield production and drilling supplies and related products. These assets generated net sales of approximately $12 million in 2009. Other details of the transaction were not disclosed.

The acquisition is part of MRC's plans to expand operations and inventory in active shales both organically and through acquisition. Dresser Oil Tools & Supply operates within the Bakken Shale.

Dale Sundley, president of Dresser Oil Tools & Supply, will join MRC as part of the region management group.

MRC is a global distributor of PVF and related products and services to the energy and industrial sectors.

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