Trinity Industries, Inc. Announces the Acquisition of Forjas Metálicas, S.A. de C.V.
Trinity Industries, Inc. (NYSE:TRN) today announced that it has acquired
the assets of Forjas Metálicas, S.A. de C.V. (“Formet”) for a purchase
price of approximately $23 million plus assumption of certain specific
liabilities. Formet, headquartered in Monterrey, Mexico, designs,
manufactures and sells galvanized and corrugated steel products for the
electricity transmission and highway products markets.
“The acquisition of Formet builds upon Trinity’s strategy to become a
premier, diversified industrial company by acquiring complementary
product portfolios that generate internal synergies and enhance
returns,” said William A. McWhirter II, Trinity Industries, Inc. Senior
Vice President and Construction, Energy, and Inland Barge Group
President. “We have admired Formet’s capabilities and competencies for a
number of years, and we are excited about the opportunity to broaden our
product portfolio within the Utility Structures business segment and
enhance our manufacturing footprint in Mexico with this acquisition.”
Trinity Industries, Inc., headquartered in Dallas, Texas, is a
diversified industrial company that owns market-leading businesses which
provide products and services to the energy, transportation, chemical
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.