MRC Global Announces Joint Venture with Frisbie Measurement Services to Provide Integrated Meter Technical Services

Rhea-AI Summary

MRC Global (NYSE: MRC) has announced a strategic joint venture with Frisbie Measurement Services (FMS) to form IMTEC Services, a provider of integrated smart meter technical services for the gas utilities sector. The venture, which is seeking certification as a woman-owned business, will operate from MRC Global's La Porte, Texas Operations Complex.

IMTEC Services will function as a centralized meter center, integrating meter and electronic meter reading capabilities while focusing on quality and safety. The joint venture aims to provide customers with shorter lead times, enhanced market disruption resilience, and regulatory compliance. Additionally, it will offer 100% Tier II diverse supplier classification for all meter spending, meeting state public utility commission requirements.

Positive

• Strategic expansion into smart meter technical services market
• Potential for diverse supplier certification (woman-owned business status)
• 100% Tier II diverse supplier classification for utility customers
• Centralized operations promising shorter lead times and market resilience

Negative

• None.

HOUSTON, March 14, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) announced that it has entered into a joint venture with Frisbie Measurement Services, LLC (FMS) forming IMTEC Services, a provider of integrated smart meter technical services to the gas utilities sector. IMTEC Services is applying for its certification as a woman-owned business with the Women’s Business Enterprise National Council (WBENC).

IMTEC Services is a centralized meter center that will integrate meter and electronic meter reading capabilities while maintaining quality and safety. With IMTEC Services, customers will be able to enjoy shorter lead times, resilience against market disruptions, a commitment to regulatory compliance and high-quality meters delivered with precision.

“The smart meter development process has been cumbersome for utilities and manufacturers alike. FMS understands the technical requirements for smart meters and automated meter readers and qualifies IMTEC as a diverse supplier to purchasing utilities. Based on feedback from our gas utility customers, we expect a strong reception,” Rob Saltiel, MRC Global President & CEO, said.

Heidi Frisbie, President of FMS, Tecvalco USA and former General Manager, Smart Energy at Honeywell stated, “FMS’ customer-focused energy solutions and MRC Global’s extensive inventory experience are well suited for the IMTEC Services joint venture. This combined expertise allows IMTEC Services to offer meter and end point solutions that meet high quality and safety requirements while providing 100% Tier II diverse supplier classification for all meter spending, meeting requirements of state public utility commissions for our gas utility customers.”

IMTEC Services will offer a comprehensive meter supply chain and will operate within MRC Global’s La Porte, Texas Operations Complex which is centrally located to serve customers throughout the United States.

About MRC Global Inc.
Headquartered in Houston, Texas, MRC Global (NYSE: MRC) is the leading global distributor of pipe, valves, fittings (PVF) and other infrastructure products and services to diversified end-markets including the gas utilities, downstream, industrial and energy transition, and production and transmission infrastructure sectors. With over 100 years of experience, MRC Global has provided customers with innovative supply chain solutions, technical product expertise and a robust digital platform from a worldwide network of approximately 200 locations including valve and engineering centers. The company’s unmatched quality assurance program offers approximately 200,000 SKUs from over 7,100 suppliers, simplifying the supply chain for over 8,300 customers. Find out more at www.mrcglobal.com.

About Frisbie Measurement Services LLC
Headquartered in Cleveland, OH, Frisbie Measurement Services, LLC provides comprehensive gas measurement expertise utilizing a team of expert metrology and engineering resources. From proving, trouble shooting, to technical consulting, the company operates with an acute understanding of customer needs and prides itself on delivering customer focused solutions in the metering space. The company is proudly women-owned and led.

Contact:
Monica Broughton
VP, Investor Relations & Treasury
MRC Global Inc.
Monica.Broughton@mrcglobal.com
832-308-2847

FAQ

What is the purpose of MRC Global's new IMTEC Services joint venture?

IMTEC Services will provide integrated smart meter technical services to the gas utilities sector, offering centralized meter solutions with electronic reading capabilities.

Where will IMTEC Services operate its facilities?

IMTEC Services will operate within MRC Global's La Porte, Texas Operations Complex, serving customers throughout the United States.

What competitive advantages does the MRC-Frisbie joint venture offer?

The venture offers shorter lead times, market disruption resilience, regulatory compliance, and 100% Tier II diverse supplier classification.

How will IMTEC Services benefit gas utility customers?

Customers will receive high-quality meters with precision delivery, shorter lead times, and meet state public utility commission requirements through diverse supplier classification.

What certification is IMTEC Services pursuing?

IMTEC Services is applying for certification as a woman-owned business with the Women's Business Enterprise National Council (WBENC).