# Russel Metals to sell 50% stake in TriMark to Marubeni-Itochu Tubulars America

Russel Metals has agreed to sell its 50% equity interest in TriMark Tubulars Ltd. to Marubeni-Itochu Tubulars America Inc. for approximately $61 million. The transaction is expected to close in Q3 2023.

- Type: Acquisition
- Announced: 2023-07-31
- Where: Calgary, Canada, Canada
- Value: $61.0M
- Status: announced
- Products: OCTG, line pipe
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Russel Metals](https://endata.com/companies/5410.md)
- [Marubeni-Itochu Tubulars America](https://endata.com/companies/54462.md) (acquirer)
- [TriMark Tubulars](https://endata.com/companies/54463.md) (target)

## Sources

- [prnewswire.com](https://www.prnewswire.com/news-releases/russel-metals-to-sell-its-50-equity-interest-in-trimark-to-marubeni-itochu-301889415.html), 2023-07-31: "Russel Metals will sell its 50% equity interest in TriMark Tubulars Ltd. for approximately $61 million."
- [akm.ru](https://www.akm.ru/eng/news/canadian-russel-metals-sells-50-in-trimark-tubulars-/), 2023-08-01: "The transaction is in line with Russel's strategy aimed at phasing out the OCTG/line pipe business."
- [steelorbis.com](https://www.steelorbis.com/steel-news/latest-news/russel-metals-to-sell-50-percent-interest-in-trimark-tubulars-1300550.htm), 2023-08-01: "This transaction represents the final step to our staged exit from the OCTG/line pipe business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.