Texas Industries, Inc. Finalizes Exchange of Its Expanded Shale and Clay
Aggregates Business for East Texas Ready-Mix Concrete Business
DALLAS, March 25, 2013 (GLOBE NEWSWIRE) -- Texas Industries, Inc. (NYSE:TXI)
announced today that on March 22, 2013, its subsidiaries finalized the
exchange of its expanded shale and clay aggregates manufacturing business for
the ready-mix concrete and aggregate distribution businesses of subsidiaries
of Trinity Industries, Inc. in east Texas and southwest Arkansas.
As a result of the transaction, Texas Industries has transferred its expanded
shale and clay manufacturing facilities in Streetman, Texas; Boulder, Colorado
and Frazier Park, California; its DiamondPro® product line; and related assets
and consideration in exchange for 42 ready-mix concrete plants stretching from
Texarkana to Beaumont in east Texas and southwestern Arkansas, two aggregate
distribution facilities in Beaumont and Port Arthur, Texas, $8.5 million in
cash and related assets and consideration.
"This transaction continues and significantly enhances our vertical
integration strategy. It also provides an opportunity to service historically
strong and growing local markets from Beaumont to Southern Arkansas. The
timing fits well with our upstream cement capacity additions in Central
Texas," stated Jamie Rogers, TXI's Vice President and Chief Operating Officer.
Certain statements contained in this press release are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements are subject to risks, uncertainties and other
factors, which could cause actual results to differ materially from future
results expressed or implied by such forward-looking statements. Potential
risks and uncertainties include, but are not limited to, the impact of
competitive pressures and changing economic and financial conditions on our
business, the cyclical and seasonal nature of our business, the level of
construction activity in our markets, abnormal periods of inclement weather,
unexpected periods of equipment downtime, unexpected operational difficulties,
changes in the cost of raw materials, fuel and energy, changes in the cost or
availability of transportation, changes in interest rates, the timing and
amount of federal, state and local funding for infrastructure, delays in
announced capacity expansions, ongoing volatility and uncertainty in the
capital or credit markets, the impact of environmental laws, regulations and
claims and changes in governmental and public policy, and the risks and
uncertainties described in our reports on Forms 10-K, 10-Q and 8-K.
Forward-looking statements speak only as of the date hereof, and we assume no
obligation to publicly update such statements.
TXI is the largest producer of cement in Texas and a major cement producer in
California. TXI is also a major supplier of construction aggregate, ready-mix
concrete and concrete products.
CONTACT: T. Lesley Vines, Jr.
Corporate Controller & Treasurer
Direct 972.647.6722 E-mail email@example.com
Texas Industries, Inc. Logo
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