Trinity Industries, Inc. Announces Construction Products Acquisition
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DALLAS, April 5: Trinity Industries, Inc. (NYSE:TRN) announced today that its subsidiary, Transit Mix Concrete & Materials Company, has acquired a combined group of East Texas asphalt, ready mix concrete and aggregates businesses operating under the name Armor Materials. The businesses were owned by a common group of individuals and companies. The acquisition was made for cash and the purchase price was not disclosed. Revenues for the acquired businesses are estimated to be approximately $55 million per year.
"We are pleased to complete this acquisition," said Timothy R. Wallace, Trinity's Chairman, President, and CEO. "These businesses will complement our portfolio of businesses in our Construction Products Group and strengthen our position in the East Texas market. This acquisition provides an entry into the Texas asphalt market, which we believe holds growth potential in select markets."
Certain of the selling individuals will remain with the acquired businesses and be actively involved on Transit Mix Concrete & Materials Company's management team.
Trinity Industries, Inc., with headquarters in Dallas, Texas, is a holding company of diversified industrial companies with market-leading positions. Trinity reports 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. Trinity's web site may be accessed at www.trin.net/ .
Source: Trinity Industries, Inc.
CONTACT: James Perry, Vice President and Treasurer Trinity Industries, Inc., +1-214-589-8412
Web site: www.trin.net/
