Service Centers
April 15, 2021
Russel Metals to Merge Canadian OCTG Business
Written by Sandy Williams
Metals distributor Russel Metals and Marubeni-Itochu Tubulars America, Inc., plan to merge their Canadian OCTG/line pipe businesses. The new entity will be a 50/50 joint venture named TriMark Tubulars Ltd, a combination of Russel’s Triumph Tubular & Supply Ltd and MITA’s Hallmark Tubulars Ltd.
The merger is a result of changing business conditions for the OCTG/line pipe industry due to a challenging energy market and the removal of “middlemen” in the supply chain by certain direct-to-market manufacturers. The merger will result in a company with the necessary economies of scale as well as a diverse product platform, said Russel Metals.
