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HOUSTON - MRC Global Inc. (NYSE:MRC), a global distributor of infrastructure products with a market capitalization of $911 million and strong financial health according to InvestingPro analysis, has announced a joint venture with Frisbie Measurement Services, LLC, named IMTEC Services, to supply integrated smart meter technical services to the gas utilities sector. The newly formed entity aims to streamline smart meter development, offering shorter lead times and high-quality metering solutions. The company’s solid liquidity position, with current assets nearly double its short-term obligations, provides a strong foundation for this strategic expansion.
IMTEC Services will be applying for certification as a woman-owned business through the Women’s Business Enterprise National Council (WBENC). The joint venture leverages MRC Global’s extensive inventory experience and Frisbie Measurement’s technical metering expertise to create a centralized meter center that integrates meter and electronic meter reading capabilities while upholding safety and quality standards.
Rob Saltiel, President and CEO of MRC Global, expressed optimism for the venture, anticipating a strong reception from gas utility customers. Heidi Frisbie, President of FMS, highlighted the joint venture’s ability to meet high quality and safety requirements while providing a 100% Tier II diverse supplier classification, aligning with state public utility commission requirements for gas utility customers. With the stock currently trading significantly below its InvestingPro Fair Value, analysts maintain a strong buy consensus with upside potential.
IMTEC Services will operate within MRC Global’s La Porte, Texas Operations Complex, strategically located to serve customers across the United States. The comprehensive meter supply chain offered by IMTEC Services is expected to enhance resilience against market disruptions and ensure regulatory compliance.
MRC Global, headquartered in Houston, Texas, has over 100 years of experience and operates approximately 200 locations worldwide, including valve and engineering centers. The company stocks around 200,000 SKUs from over 7,100 suppliers, catering to over 8,300 customers across various sectors. With annual revenue of $3.2 billion and a healthy EBITDA of $191 million in the last twelve months, MRC Global maintains a strong market position. Discover more detailed financial metrics and exclusive insights with InvestingPro, including 12 additional ProTips and comprehensive valuation analysis available in the Pro Research Report.
Frisbie Measurement Services, LLC, based in Cleveland, OH, is a women-owned and led company specializing in gas measurement services, offering technical consulting and solutions tailored to customer needs in the metering space.
This venture represents MRC Global’s commitment to innovation in the metering industry and its continued expansion of services. The information provided is based on a press release statement from MRC Global.
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