Trinity Industries, Inc. Announces the $40 Million Acquisition of the Assets of Armstrong Bros. Hold
Trinity Industries, Inc. Announces the $40 Million Acquisition of the Assets of Armstrong Bros. Holding Co.
DALLAS--(BUSINESS WIRE)-- Trinity Industries, Inc. (NYS: TRN) today announced that through a wholly-owned subsidiary it has acquired the assets of Armstrong Bros. Holding Co., a Michigan-based manufacturer and lessor of trench shields and shoring equipment for the underground construction industry. The purchase price for the assets was approximately $40 million and includes net working capital, rental fleet assets, associated manufacturing and operational facilities, and certain patents and trademarks. The assets will be reflected in the Construction Products segment for financial reporting purposes.
"We are excited about the opportunity to further expand the product offerings and customer base for the Construction Products business in the North American infrastructure-related market," said William A. McWhirter II, Trinity Industries, Inc. Senior Vice President and Construction, Marine, and Parts & Components Group President. "This transaction represents further progress in repositioning the Construction Products segment to align with products that have more consistent demand drivers."
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 Greiner, 214-631-4420
Director of Investor Relations
KEYWORDS: United States North America Michigan Tennessee
The article Trinity Industries, Inc. Announces the $40 Million Acquisition of the Assets of Armstrong Bros. Holding Co. originally appeared on Fool.com.
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