MRC Global Inc. - Company Research Report

Company Overview

• Name: MRC Global Inc.

• Mission: Deliver superior service to our customers around the world and provide innovative supply solutions to enhance our customers’ operations.

• Establishment: Founded in 1921 by Jerry McJunkin and Bernard Wehrle.

• Key People:

• Rhys Best (Former Chairman of the Board, Retired May 2022)

• Robert L. (Bob) Wood (Chairman of the Board)

• Rob Saltiel (CEO)

• Kelly Youngblood (CFO)

• Emily Shields (Sustainability Organization Lead)

• Headquarters: 1301 McKinney Street, Suite 2300, Houston, Texas 77010-3035, USA

• Number of Employees: 2,800

• Revenue: $3.2 billion in sales

• Known For: Leading global distributor of pipes, valves, and fittings (PVF) for the energy and industrial markets with a focus on energy transition.

Products

Pipe, Valves, and Fittings (PVF)

• General Overview: MRC Global provides a vast array of PVF products catering to the energy, energy transition, gas utilities, and industrial applications.

• Product Categories and Key Features:

• Valves, Automation, Measurement & Instrumentation:

• Various manufacturer options and customization for extreme applications.

• Includes pneumatic, electric, manual actuators, and various instrumentation and measurement products.

• Carbon Steel Pipe:

• Features standard and line pipe, seamless, SAW and ERW.

• Compliance with API, ASTM, ASME or CSA standards.

• Carbon Steel Fittings:

• Offers a range from elbows, tees to specialty fittings.

• Customization available by size, bend degree, and connection type.

• Carbon Steel Flanges:

• Available in various sizes, connection types, and pressure ratings.

• Includes complementary gaskets.

• Gas Products & Polyethylene Pipe:

• Solid inventory including pipes, fittings, regulators, and meter accessories.

• Stainless Steel & Alloy Pipe, Fittings, & Flanges:

• High-pressure, high-temperature, and high-corrosion environment suitability.

• Sizes range from ½” through 24” including various alloy grades.

• General Supplies:

• Includes mill supplies, tools, safety equipment, and pipeline accessories.

Recent Developments

• Renewable Energy Projects:

• Supplied PVF materials for Australia’s largest renewable project linking dams for on-demand power supply.

• Offshore Wind:

• Awarded contracts for offshore wind project off New York’s coast.

• Carbon Capture and Storage:

• Supplied valves for Belgium's project converting carbon gases into bioethanol, expected to produce 80M liters annually.

• Hydrogen:

• Provided materials for Alberta’s blue-hydrogen plant aiming for net-zero hydrogen production by 2024.

• Biofuels:

• Supplied materials for a renewable fuels facility in California, anticipates 730M gallons/year of renewable fuels.

• Geothermal:

• Valves supplied for a geothermal plant in California with multiple heat power units.

• Corporate Developments:

• Celebrated 100 years in 2021.

• Anne McEntee joined the Board of Directors.

• Expanded digital supply chain solutions with MRCGO™.

Strategic Position & Vision

• Vision: To be the world’s leading provider of PVF products and solutions to the energy and industrial markets.

• Operations:

• Global Presence: Operates over 200 locations in 16 countries, serving over 10,000 customers and working with 8,500 suppliers.

• Inventory Value: Global inventory valued at $758 million.

• Industry Leadership: Leading distributor in the energy sector with emphasis on sustainability practices and energy transition.

MRC Global continues to adapt and expand its offerings to align with global energy transition trends and support the changing needs of their diverse client base across multiple sectors.