HSR Waiting Period Terminates Clearing MRC Global Inc. To Proceed With Pending Acquisition Of Production Specialty Services

Dec 12, 2012, 16:39 ET from MRC Global Inc.

HOUSTON, Dec. 12, 2012 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC) announced today that the waiting period under the Hart-Scott-Rodino Anti-Trust Improvements Act of 1976 was terminated early in connection with MRC's previously announced pending acquisition of Production Specialty Services, Inc.  Closing of the acquisition remains subject to other customary closing conditions and is expected to occur before year-end 2012.

About MRC Global Inc.

Headquartered in Houston, Texas, MRC, a Fortune 500 company, is the largest global distributor of pipe, valve, and fittings (PVF) and related products and services to the energy industry, based on sales, and supplies these products and services across each of the upstream, midstream and downstream sectors.  More information about MRC can be found at www.mrcglobal.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Words such as "expected" and similar expressions are intended to identify forward-looking statements. The company's expectation of the closing its planned acquisition of Production Specialty Services Inc. is only the company's expectation regarding this matter. Whether MRC is actually successful in closing its acquisition of Production Specialty Services is dependent on a number of factors, including (among others) the fulfillment or waiver of customary conditions to closing of acquisitions of similar companies.  There can be no guarantee that these conditions will be met or waived or met or waived by the company's expected closing date. 

Undue reliance should not be placed on the company's forward-looking statements. Although forward-looking statements reflect the company's good faith beliefs, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the company's actual results, performance or achievements or future events to differ materially from anticipated future results, performance or achievements or future events expressed or implied by such forward-looking statements. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent required by law.

Contacts: James E. Braun, EVP & Chief Financial Officer MRC Global Inc. Jim.Braun@mrcpvf.com 832-308-2845

Ken Dennard, Managing Partner DRG&L ksdennard@drg-l.com  713-529-6600

SOURCE MRC Global Inc.