OneSteel, Australia’s integrated miner, manufacturer, distributor and recycler of steel products has announced it has completed the sale of its Piping Systems business to US-based MRC Global Inc. (MRC), formerly McJunkin Red Man Holding Corporation.
The company announced it had entered into an agreement with MRC in December to sell its Piping Systems business for $67 million. The sale of related property investments, is expected to result in total proceeds for OneSteel of approximately $100 million. The sale process for the related properties is continuing.
With revenues in excess of $7 billion Australian dollars, ‘OneSteel services more than 30,000 customers, offers more than 40,000 products globally and employs over 11,000 people.’ One Steel.