MRC Global to Sell Canada Operations

Dow Jones

Dec 16, 2024

By Colin Kellaher

MRC Global has struck a deal to sell its Canada operations to privately held Emco Corp., as the distributor of pipe, valves and fitting focuses on its core geographies and product offerings.

MRC didn't disclose terms of the deal, but the Houston company on Monday said it expects to record a $25 million pretax loss on discontinued operations in the fourth quarter.

MRC's Canada operations posted third-quarter sales of $26 million, a fraction of the company's overall sales of $797 million for the period. The company's Canada sales have been hurt by a decline in the production and transmission infrastructure sector.

MRC said it will use proceeds from the sale, slated to close in the first half of 2025, to reduce debt.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

December 16, 2024 06:56 ET (11:56 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers HK | Online Trading in stocks, bonds & ETFS","description":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","keywords":"tiger trading,tiger security,tiger broker hk,tigers co ltd,tiger trade hk,tiger brokers hk,stock broker,securities broker,online brokerage,hong kong broker,hk broker,online stock trading,online trading platform,stock trading platforms,trading application,stock trading,stock trading hong kong,buying stocks in hong kong,tiger brokers","social":{"ogDescription":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2491662856"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"HKG","license":"TBHK","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2491662856\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2491662856?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-16 19:56","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2491662856","market":"fut","top_or_hot":-1,"title":"MRC Global to Sell Canada Operations","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Colin Kellaher \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/MRC\">MRC Global</a> has struck a deal to sell its Canada operations to privately held Emco Corp., as the distributor of pipe, valves and fitting focuses on its core geographies and product offerings. \n</p>\n<p>\n  MRC didn't disclose terms of the deal, but the Houston company on Monday said it expects to record a $25 million pretax loss on discontinued operations in the fourth quarter. \n</p>\n<p>\n  MRC's Canada operations posted third-quarter sales of $26 million, a fraction of the company's overall sales of $797 million for the period. The company's Canada sales have been hurt by a decline in the production and transmission infrastructure sector. \n</p>\n<p>\n  MRC said it will use proceeds from the sale, slated to close in the first half of 2025, to reduce debt. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 16, 2024 06:56 ET (11:56 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>MRC Global to Sell Canada Operations</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMRC Global to Sell Canada Operations\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-12-16 19:56</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Colin Kellaher \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/MRC\">MRC Global</a> has struck a deal to sell its Canada operations to privately held Emco Corp., as the distributor of pipe, valves and fitting focuses on its core geographies and product offerings. \n</p>\n<p>\n  MRC didn't disclose terms of the deal, but the Houston company on Monday said it expects to record a $25 million pretax loss on discontinued operations in the fourth quarter. \n</p>\n<p>\n  MRC's Canada operations posted third-quarter sales of $26 million, a fraction of the company's overall sales of $797 million for the period. The company's Canada sales have been hurt by a decline in the production and transmission infrastructure sector. \n</p>\n<p>\n  MRC said it will use proceeds from the sale, slated to close in the first half of 2025, to reduce debt. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 16, 2024 06:56 ET (11:56 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MRC","symbol_name":"MRC Global","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2491662856","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491662856","pubTimestamp":1734350160,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"MRC Global has struck a deal to sell its Canada operations to privately held Emco Corp., as the distributor of pipe, valves and fitting focuses on its core geographies and product offerings.MRC didn't disclose terms of the deal, but the Houston company on Monday said it expects to record a $25 million pretax loss on discontinued operations in the fourth quarter.MRC's Canada operations posted third-quarter sales of $26 million, a fraction of the company's overall sales of $797 million for the period. The company's Canada sales have been hurt by a decline in the production and transmission infrastructure sector.MRC said it will use proceeds from the sale, slated to close in the first half of 2025, to reduce debt.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MRC":"MRC Global","BK4104":"贸易公司与经销商"},"translate_title":"MRC Global将出售加拿大业务","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MRC":1},"content_text":"By Colin Kellaher \n\n\n \n\n\nMRC Global has struck a deal to sell its Canada operations to privately held Emco Corp., as the distributor of pipe, valves and fitting focuses on its core geographies and product offerings. \n\n\n  MRC didn't disclose terms of the deal, but the Houston company on Monday said it expects to record a $25 million pretax loss on discontinued operations in the fourth quarter. \n\n\n  MRC's Canada operations posted third-quarter sales of $26 million, a fraction of the company's overall sales of $797 million for the period. The company's Canada sales have been hurt by a decline in the production and transmission infrastructure sector. \n\n\n  MRC said it will use proceeds from the sale, slated to close in the first half of 2025, to reduce debt. \n\n\n \n\n\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 16, 2024 06:56 ET (11:56 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}