Trinity Industries Buys Wear Products.Trinity Industries, Inc., Dallas, has announced that its subsidiary, Trinity Rail Services, Inc., has acquired the assets of Wear Products, L.L.C., Gary, Indiana Indiana, state, United StatesIndiana, midwestern state in the N central United States. It is bordered by Lake Michigan and the state of Michigan (N), Ohio (E), Kentucky, across the Ohio R. (S), and Illinois (W). . Wear Products specializes in castings that are used in producing equipment for surface and underground mining industries. This acquisition is complementary to Trinity's parts subsidiary, McConway & Torley, which has been acting as a preferred manufacturing source for Wear Products since December of last year. Wear's products include unique designs in longwall face conveyors and flight bars as well as patented quick-change bucket A reserved amount of memory that holds a single item or multiple items of data. Bucket is somewhat synonymous to "buffer," although buffers are usually memory locations for incoming data records, while buckets tend to be smaller holding areas for calculations. See hash table, buffer and variable. teeth for draglines and excavators. "This acquisition supports Trinity's strategic growth plans to aggressively diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. our portfolio of products and services," said Trinity Industries Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Timothy R. Wallace. "In addition to providing a broader presence in the mining market, Wear Products is principally an aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. business." |
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