Trinity Industries, Inc. Announces Further Expansion of its Aggregates Business and Divestiture of its Concrete Business
DALLAS--(BUSINESS WIRE)-- Trinity Industries, Inc. (NYSE: TRN ) announced today that its subsidiary, Trinity Materials, Inc., has entered into an agreement to acquire certain aggregates operations of Texas Industries, Inc. (“TXI”) that are located in Texas, Colorado, and California. The transaction is expected to close before year-end and is subject to customary closing conditions. Further details regarding the transaction will be provided upon closing.
As part of the transaction, Transit Mix Concrete and Materials Company, also a subsidiary of Trinity Industries, Inc., will transfer to TXI its remaining ready mix operations located in the East Region of Texas and parts of Arkansas. Once this transaction is complete, Trinity will no longer own any ready-mix concrete businesses.
“The transaction with TXI is a continuation of our strategy to focus on the aggregates side of our business. We have been repositioning the Construction Products segment to align with products that have more consistent demand drivers,” said William A. McWhirter II, Trinity Industries, Inc. Senior Vice President and Construction, Marine, and Parts & Components Group President. “We expect the transaction to be slightly accretive but will not have a material impact on Trinity’s ongoing consolidated financial results. We remain positive on the underlying infrastructure and construction markets driving long-term demand for aggregates.”
Trinity Industries, Inc., headquartered in Dallas, Texas, is a diversified industrial company that owns a variety of market-leading businesses which provide products and services to the industrial, energy, transportation, and construction sectors. Trinity reports its financial results in five principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group, and the Energy Equipment Group. For more information, visit: www.trin.net.
Trinity Industries, Inc.
Jessica L. Greiner, 214-631-4420
Director of Investor Relations
KEYWORDS: United States North America Texas