Aug 23 (Reuters) - MRC Global Inc MRC.N :
* On August 19, committed to a plan to restructure and significantly downsize its Australian operations
* Plan includes consolidation of facilities and locations, involuntary employee terminations and asset impairment charges
* MRC Global Inc says to downsize its australian operations in response to continued downturn in oil and gas and mining industries in region
* Restructuring plan, which will begin immediately and is expected to be completed by Q1 of 2017
* Majority of costs are expected to be incurred in Q3 and Q4 and include, on a pre-tax basis, $7-$10 million of inventory-related charges
* Pre-Tax charges associated with restructuring plan expected to total $18 million to $24 million, including cash expenditures of $11 million to $14 million
* Due to current pre-tax loss position in Australia, co does not expect to recognize a tax benefit on any restructuring charges - sec filing
* Costs include $6-$7 million of lease termination costs, $3-$4 million for facilities relocations and $2-$3 million of employee termination costs Source text Further company coverage: MRC.N