TXI Expands Presence in Central Texas
August 01 2011 - 8:40AM
Texas Industries (NYSE:TXI) today announced the acquisition of
ready mix and aggregate operations of CEMEX USA that serve the
Austin metropolitan market. The transaction was finalized on July
29. This acquisition expands TXI's operations by three ready mix
concrete plants and one aggregate plant.
This investment allows TXI to further supplement the company's
growing resources in this region, including the recently-completed
acquisition of the Central Texas Ready Mix division and expansion
of the Hunter Cement plant, which is currently underway. It also
augments TXI's Austin aggregate operations. "This transaction
further enhances our vertical integration strategy," stated Jamie
Rogers, Vice President and COO for TXI. "We believe the Austin
market will experience strong growth over the long-term, and we are
excited about expanding our leadership position in this region,"
Rogers added.
As a part of the transaction, TXI transferred to CEMEX USA
existing ready mix operations in the Houston marketplace. TXI
continues to operate cement and aggregate terminal operations along
with packaged materials facilities in the Houston marketplace.
"While times remain challenging, we will continue to investigate
opportunities that enhance the company's long-term strategic
position," said Mel Brekhus, President and CEO of TXI.
Texas Industries, Inc., a Dallas-based company, is a leading
supplier of building materials, including cement, aggregate and
concrete. With operating subsidiaries in six states, TXI is
the largest producer of cement in Texas and a major producer in
California. TXI is a major supplier of stone, sand, gravel and
expanded shale and clay products, and one of the largest producers
of bagged cement and concrete products in the Southwest. TXI shares
are traded on the New York Stock Exchange under the symbol
"TXI."
Certain statements contained in this press release are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements other than
statements of historical fact are forward-looking statements.
Forward-looking statements may include the words "may", "will",
"estimate", "intend", "continue", "believe", "expect", "plan" or
"anticipate" and other similar words. 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.
CONTACT: David Perkins
Corporate Director
Communications
And Government Affairs
972.647.3911
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