HOUSTON, June 17, 2015 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC) announced today that its subsidiary, MRC Transmark Middle East FZE, has signed a framework agreement with Saudi Basic Industries Corporation (SABIC), naming MRC Transmark Middle East as one of SABIC's primary valve suppliers to SABIC's operations in Saudi Arabia.
SABIC, headquartered in Riyadh, Saudi Arabia, ranks among the world's top petrochemical companies. It operates from more than 50 countries and has more than 60 manufacturing and compounding plants across the Middle East, Asia, Europe and the Americas.
The new framework agreement covers MRC Global's supply of valves to all 22 of SABIC's production complexes in Saudi Arabia and is an expansion of their current framework agreement, which includes all of SABIC's European facilities. Through its subsidiary, McJunkin Red Man Corporation, MRC Global has also served as the primary pipe, valve and fitting (PVF) provider to SABIC's U.S. operations for more than 25 years.
"We are grateful for the trust SABIC has placed in MRC Global with this agreement," Andrew Lane, MRC Global Chairman, President & CEO, said. "We look forward to expanding upon our strong relationship and solid track record to support SABIC in one of the most important energy producing countries in the world."
MRC Transmark Middle East will initially support SABIC's Saudi Arabian business from its regional distribution center in the Jebel Ali Free Zone. The 30,000 ft2 (2,787 m2) warehouse and three acre pipe yard has maintained approximately $20 million inventory of PVF products to support the region. MRC Global is committed to opening a technical support and storage facility in the Kingdom of Saudi Arabia and is in the final stages of agreeing to the details with a local partner.
About MRC Global Inc.
Headquartered in Houston, Texas, MRC Global, a Fortune 500 company, is the largest global distributor, based on sales, of pipe, valves, and fittings (PVF) and related products and services to the energy industry and supplies these products and services across each of the upstream, midstream and downstream sectors. More information about MRC Global can be found at www.mrcglobal.com.
Contact:
Monica Broughton
Investor Relations
MRC Global Inc.
Monica.Broughton@mrcglobal.com
832-308-2847
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SOURCE MRC Global Inc.
