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

1. MRC partners with Frisbie to form IMTEC Services. 2. IMTEC will provide smart meter services to gas utilities. 3. The venture aims for diverse supplier certification. 4. IMTEC enhances lead times and regulatory compliance. 5. Strong market reception is anticipated based on customer feedback.

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Why Bullish?

The formation of IMTEC Services aligns with market trends for smart meter solutions, which could enhance MRC's competitiveness and revenue streams. Historical examples, such as other utility industry's shifts toward technology integration, have shown positive stock reactions in similar scenarios.

How important is it?

This joint venture represents a strategic maneuver that can augment MRC's market position and growth potentials in the smart technology space, making it important. As smart meter solutions are increasingly prioritized within utilities sectors, MRC's proactive steps here can greatly enhance investor confidence.

Why Long Term?

Long-term value is expected as IMTEC builds its brand, leverages MRC's existing distribution channels, and captures market demand, reflecting successful outcomes of comparable ventures.

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FMSHONGEETR
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 BroughtonVP, Investor Relations & Treasury MRC Global Inc. Monica.Broughton@mrcglobal.com 832-308-2847

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