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Slide #29. Trinity Industries, Inc. — Platinum Energy Services
Trinity Industries, Inc. (NYSE:TRN)
Platinum Energy Services
Trinity Industries, Inc. (NYSE:TRN) today announced that it has acquired the assets of Platinum Energy Services Corporation ("Platinum") through a newly formed subsidiary. Platinum, based in Alberta, Canada, manufactures and resells oil and gas process and storage equipment, including various types of containers, separators, and treaters used at the well-site and in midstream locations. The company operates out of two leased facilities in Calgary and one owned facility in Redcliff, Alberta. Initial annual revenues are expected to be in the range of approximately $40 million to $45 million.
Trinity Industries is a provider of railcar products and services in North America. Co. has the following reportable segments: Railcar Leasing and Management Services Group, which provides operating leases for freight and tank railcars, as well as originates and manages railcar leases for third-party investors and provides fleet maintenance and management services to industrial shippers; Rail Products Group, which manufactures freight and tank railcars in North America used for transporting a variety of liquids, gases, and dry cargo, and also provides a range of maintenance services and solutions; and All Other, which includes Co.'s highway products business.
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Buy (2.80 out of 4)