Trinity Industries spin-off infrastructure company to be named Arcosa
Trinity Industries (TRN) announced the name of its future infrastructure company as Arcosa, Inc. following the separation of the two companies into independent, publicly-traded companies. The previously announced spin-off transaction remains on track to be completed in the fourth quarter of 2018 through a tax-free spin of Arcosa to Trinity stockholders, the company stated. Trinity has also announced the filing of the initial Form 10 with the U.S. Securities and Exchange Commission. The initial Form 10 contains a preliminary information statement providing details related to the business, strategy, and historical financial results of the new infrastructure company. Arcosa had $1.5B in 2017 revenues and $132M in 2017 operating profit. Following the spin-off transaction, Trinity's business portfolio will include railcar leasing and management services, railcar manufacturing, railcar maintenance, railcar aftermarket parts, tank car heads manufacturing, and the highway products business.