DALLAS--Today, Trinity Industries, Inc. (NYSE: TRN) announced that its wholly-owned subsidiary, Trinity Structural Towers, Inc. (“TSTI”), has received an order to manufacture $940 million of wind towers. TSTI expects to deliver the wind towers over a three-year period beginning in 2017.
“We are pleased to be awarded this long-term order that extends the backlog for our wind towers business through 2019,” said William A. McWhirter II, Trinity’s Senior Vice President and Group President. “The talent and dedicated efforts of our business leadership team was instrumental in obtaining this attractive order.”
“TSTI’s employees exemplify the spirit of Trinity Craftmanship, which is at the core of everything we do,” said Kerry S. Cole, Trinity Structural Towers’ President. “We are extremely proud of our industry-leading position and the superior products and services our TSTI team delivers each and every day.”
Results for the Company’s wind towers business are reported in the Energy Equipment Group. As of March 31, 2016, the backlog for wind towers was $263.4 million.
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.
Some statements in this release, which are not historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Trinity's estimates, expectations, beliefs, intentions or strategies for the future, and the assumptions underlying these forward-looking statements. Trinity uses the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “forecasts,” “may,” “will,” “should,” “guidance” and similar expressions to identify these forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from historical experience or our present expectations. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and “Forward-Looking Statements” in the Company's Annual Report on Form 10-K for the most recent fiscal year.