PVF Survey Documents Plunge In Business A recent survey of purchasing habits by PVF distributors found 73% of respondents saw decreased sales during the fi rst half of 2009, vs. only 10% who said sales had increased. The remaining 17% of respondents said their sales stayed about the same. The PVF business slump in 2009 is unprecedented in severity, according to most observers. Of those companies reporting a decrease in sales, more than three-quarters said sales had dropped by more than 10% during the fi rst half of last year, including 24% who said sales declined by more than 25%. The survey was conducted via email between Oct. 20-Nov. 2, 2009 by the BNP Media Market Research Division. More detailed survey results can be in the Web Exclusives section at www.supplyht.com. Deschenes To Acquire Anvil’s Canadian Distribution Business Montreal-based Deschenes Group Inc. (DGI) has signed an asset purchase agreement to acquire the Mueller Flow Control (MFC) division of Mueller Canada Ltd. From Anvil International. The acquisition is subject to regulatory approval and customary closing conditions. It is expected to close in early January 2010. MFC is a leading PVF distributor with 17 locations and 216 employees. “Anvil’s strength as a manufacturer and Deschenes’ strength as a leading distributor complement one another,” said Anvil President Tom Fish. “This transaction allows us to focus on our manufacturing and sourcing operations while leveraging our relationship with Deschenes.” A-D Honors Coyle As MVP Jerome Coyle of Coyle Supply was recognized with the Affi liated Distributors MVP — PHCP award at A-D’s annual North American meeting in October. This award recognizes outstanding effort from the people on the front lines who contribute to the overall welfare of their company and the group. It was presented by Affi liated Distributors’ CEO Bill Weisberg. McJunkin Red Man Pays Off Debt McJunkin Red Man Corp. (MRC) announced the completion of its offering of $1 billion aggregate principal amount of 9.5% Senior Secured Notes due 2016. The company received net proceeds of approximately $957.8 million. Coupled with available cash on hand, the Notes were used to repay approximately $977 million of outstanding indebtedness. The Notes are guaranteed by MRC Holding Corp., MRC’s parent company (MRMHC), and by all of MRC’s domestic subsidiaries, and are secured by a senior lien on substantially all of MRC’s assets (other than assets which secure MRC’s revolving credit facility) and a junior lien on the assets which secure MRC’s revolving credit facility. The Notes were sold in a private offering that was exempt from the registration requirements of the Securities Act of 1933, as amended. MRC also announced the appointment of Andrew Lane, president and CEO of MRC and MRMHC, to the added role of chairman of MRMHC. Former chairman Craig Ketchum will serve as co-chairman of the board of PVF Holdings LLC, MRC’s indirect parent company, together with H.B. Wehrle III. Headquartered in Houston, TX, with corporate offi ces in Tulsa, OK, and Charleston, WV, MRC is a global distributor of pipe, valves and fi ttings and related products and services to the energy industry.
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