Trinity Industries, Inc. Completes Its Previously Announced Transaction with Texas Industries, Inc.
DALLAS--(BUSINESS WIRE)-- Trinity Industries, Inc. (NYS: TRN) announced today that its subsidiary, Trinity Materials, Inc., has closed its previously announced agreement to acquire certain aggregates operations of Texas Industries, Inc. ("TXI") located in Texas, Colorado, and California and TXI's DiamondPro® product-line.
In exchange for these assets, Transit Mix Concrete and Materials Company, also a subsidiary of Trinity Industries, Inc., has transferred to TXI its remaining ready mix operations located in the East Region of Texas and parts of Arkansas, representing the full divestiture of its ready-mix concrete business. As a result of the expected closing, financial results for the ready-mix operations were accounted for as a discontinued operation in the Company's latest financial statements dated as of December 31, 2012.
"I am pleased to complete this transaction with TXI and build on our efforts to reposition the Construction Products Group. Our repositioning strategy centers around products that have more consistent demand drivers and offer greater opportunities for improved returns," said William A. McWhirter II, Trinity Industries, Inc. Senior Vice President and Construction, Energy, and Inland Barge Group President.
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
The article Trinity Industries, Inc. Completes Its Previously Announced Transaction with Texas Industries, Inc. originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.