Trinity Industries, Inc. (TRN) said Thursday 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 Texas Industries' DiamondPro product-line.
In exchange for those assets, Transit Mix Concrete and Materials Co., also a subsidiary of Trinity Industries, has transferred to Texas Industries 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.
The deal was originally announced in December.
As a result of the expected closing, financial results for the ready-mix operations were accounted for as a discontinued operation in Trinity Industries' latest financial statements dated as of December 31, 2012.
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