MRC Global Inc. (NYSE: MRC), Houston-based worldwide distributor of pipe, valves, fittings and energy infrastructure products and services, has agreed to sell its Canadian operations to Emco Corporation.
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Ontario-based Emco is a distributor serving plumbing, HVAC, waterworks, industrial, irrigation, fire protection and oilfield supply markets.
Sales for the MRC’s Canadian division were $26 million in the third quarter 2024.
An approximate $25 million pre-tax, non-cash loss on discontinued operations is expected to be recorded as a result of the expected sale. The sale is anticipated to close in the first half of 2025, and the company plans to use the proceeds for reduction of debt.
