Local & Regional
Fri September 7, 2012
Texas Firm Buys DMI Assets
Dallas-based Trinity Industries, Inc. announced it has entered into agreements to purchase property, plant and equipment of DMI Industries, Inc. for a purchase price of approximately $20 million. The assets to be acquired consist, primarily, of approximately 665,000 square feet of heavy manufacturing capacity and equipment located in North Dakota, Oklahoma, and Ontario, Canada.
The Oklahoma facility is at the Tulsa Port of Catoosa and was used as a construction facility for wind towers. Timothy Wallace is the company’s President and CEO.
Timothy Wallace:“I am pleased with this opportunity to expand our manufacturing capacity at a very attractive valuation. These facilities are capable of producing many of the products Trinity currently manufactures, which will serve to further enhance our overall manufacturing flexibility.”
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.