Latest In MRC Global (McJunkin-Red Man)
CEO: $48 million divestiture helps MRC "reduce exposure to upstream drilling volatility."
U.S. sales decreased 28.2 percent year-over-year.
McJunkin Red Man Corp. opens facility in Monessen, PA, to serve MRC's Eastern region.
Profit for the distributor of pipes, valves and fittings plummeted 61.9 percent.
U.S. sales increased 18.7 percent, primarily on organic sales growth.
Profit for the distributor of pipes, valves and fittings fell 10 percent.
Acquisition will expand MRC Global's footprint in Southeast Asia.
Acquisition strengthens MRC's instrument flow control business.
MSC's acquisition of Barnes' North American distribution operations was among the top deals in 2013.
International segment revenues are expected to increase 60 percent in 2014.
Goldman Sachs has been a private equity sponsor of MRC Global since 2007.
MRC Global's sales decline due in part to planned reduction in oil country tubular goods business.
New executive vice presidents have been appointed.
The decrease was due in part to declining oil country tubular goods sales.