MRC take over Texas flow control business
US-based MRC Global has signed an agreement to acquire the operating assets of Flow Control Products (FCP), also known as Dan H. Brown.
Founded in Texas in 1981, FCP is a provider of pneumatic, electric and electro-hydraulic valve automation packages and related field support to the Permian Basin energy industry, including production facilities, pipelines, and plant operations.
It employs 25 people, reported revenues of $28 million (€21.5 million) last year and it will now operate as an MRC valve automation centre.
MRC now aims to expand its existing facility in Odessa, Texas into a 110,000sq ft regional distribution centre, hopefully completed in 2014. The FCP business will operate from this newly expanded facility.
The Permian Basin is one of the most active oil drilling and production regions in the US.