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Russel Metals Inc. and Marubeni-Itochu Tubulars America Inc. completed the merger of their Canadian OCTG/line pipe businesses, combining Triumph Tubular & Supply Ltd. and Hallmark Tubulars Ltd. into a new company, TriMark Tubulars Ltd.
Russel Metals and Marubeni-Itochu Tubulars America Inc. will combine their Canadian OCTG/line pipe businesses into a new joint venture, TriMark Tubulars Ltd. Russel Metals will receive $138 million in cash and retain a 50% equity interest.