MRC Agrees To Buy Dresser Oil Tools & Supply

HOUSTON --  McJunkin Red Man Corp.,  has agreed to acquire operations and assets from Dresser Oil Tools & Supply. Dresser currently has five branches. The operations and assets to be bought by McJunkin Red Man relate to the business of the sale and distribution of pipe, valves and fittings, oilfield production, and drilling supplies and related products.

HOUSTON --  McJunkin Red Man Corp.,  has agreed to acquire operations and assets from Dresser Oil Tools & Supply.

Dresser currently has five branches.

The operations and assets to be bought by McJunkin Red Man 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 about $12 million in 2009. No other details of the transaction were 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.

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

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