Sources: Texas Industries Inc., Dallas; CP staff
An early-April transaction has yielded TXI ready mixed operations strategic to its Hunters Cement mill in New Braunfels, where a $350 million-plus capacity expansion nears completion. TXI acquired 23 concrete plants, running north of San Antonio through Hillsdale, Texas, from Transit Mix Concrete and Materials, a subsidiary of Dallas peer Trinity Industries. The deal also saw transfer of TXI’s Anacoco, Paradise and Beckett sand & gravel sites—serving markets in east and north Texas, plus Louisiana, some with Transit Mix concrete plants—to Trinity Materials Inc.
The investment allows TXI to optimize its Austin aggregates operations and new capacity at Hunter Cement, whose output is set to more than double from an existing 900,000 tons/year.”We expect this area of the state to continue to experience strong growth, and the addition of these operations and people will solidify TXI’s strategic low-cost position through vertical integration and significantly improved efficiency,” affirms Vice President of Consumer and Concrete Products Jamie Rogers.
“While this is a challenging time for our industry and TXI, we will continue to evaluate additional opportunities that enhance the company’s long-term strategic position,” adds company CEO Mel Brekhus.