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Trinity Industries announces strategic Railcar Maintenance Network Expansion-2019 China(Guangzhou)Int’l Metal & Metallurgy&nb
sp;Exhibition-metal exhibition
6/1/2019 -steel expo-metal &metallurgy expo- |
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Trinity Industries Inc announced that its wholly owned subsidiary TrinityRail Maintenance Services Inc has agreed to purchase land for the construction of a new railcar maintenance services facility in Shell Rock, Iowa. TRMS has selected the 230-acre site for its expansion, which is expected to employ over 250 people following Trinity’s planned capital investment of approximately USD 60 million in the Butler County, Iowa, community. Upon completion, the new facility will provide a full range of railcar services, including repairs and maintenance, coatings, cleaning, inspections, and testing. The site’s co-location with the Iowa Northern Railroad and optimal access to the Class-1 railroad network, including strategic access to the upper Midwest, were significant factors in Trinity’s decision to build a new railcar maintenance facility in Shell Rock.
Mr Eric Marchetto, Senior Vice President and Group President of TrinityRail® said that “TrinityRail Maintenance Services, Inc. is proud to announce the development of a new facility that will provide railcar maintenance and services. This full service facility will expand our internal network and operational flexibility in a key geographic location. This expansion will enhance our customers’ experience by delivering best-in-class turn times for maintenance events within the railcar industry, as well as consistent quality and compliance standards within our maintenance network.”
Mr Marchetto continued that “This investment will help us achieve our near-term goal to internally service approximately 50% of our maintenance events for our growing fleet of 123,000 owned and managed railcars. This initiative is also aligned with our focus to employ various operational levers to improve the financial returns of our business.”
The Company anticipates the new facility to be operational by the end of 2020 and to be accretive to consolidated financial results by the end of 2021, including anticipated start-up costs. The development is not expected to impact the Company’s 2019 earnings per share guidance. Approximately half of the investment for the new facility is expected to be incurred in 2019 and was not included in the Company’s prior 2019 guidance for capital expenditures.
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