Trinity Industries plans to spin-off infrastructure-related businesses
The separation is planned as a tax-free spin-off transaction to the company's shareholders for U.S. federal income tax purposes and is expected to be completed in the second half of 2018.
The transaction is expected to result in two separate public companies that will benefit from leading positions in their respective industries, strong free cash flow generation, and compelling growth opportunities.
Timothy R. Wallace, Trinity’s chairman, CEO and President, said: "The $500 million share repurchase program we announced today is an important step in investing our capital for long-term value creation and emphasizes our commitment to disciplined capital allocation policies to enhance growth, liquidity, and total shareholder returns.
"In 2018, Trinity will reach its 85th year as a company, and its 60th year as a public company" ■