Trinity Industries, Inc. Announces the Acquisition of Quasar Platform
31 Mai 2022 - 12:55PM
Business Wire
Trinity Industries, Inc. (NYSE:TRN) (“Trinity”) today announced
the acquisition of Quasar Platform Inc. (“Quasar”) from Cando Rail
& Terminals Ltd.. Quasar is an end-to-end rail logistics
software platform providing a real-time data universe to freight
rail shippers and operators. The acquisition enhances Trinity’s
digital product portfolio, including Trinsight™, by adding
additional capabilities like yard management, activity-based
costing, and new data visualization tools.
“Shippers are looking for solutions that increase efficiency and
visibility of their supply chain, and the Quasar team puts
tremendous value on solving customer challenges and being
responsive to rail shippers’ needs,” said Trinity’s Executive Vice
President and Chief Commercial Officer, Gregg Mitchell. “This
acquisition is an important enhancement to the Trinsight platform,
as Trinity is committed to growing its services offering with new
innovations to create deeper relationships with, and a better
experience for, rail shippers.”
The acquisition closed on May 26 and is not expected to be
material to Trinity’s results. Trinity will retain all of the
employees of Quasar as part of the transaction.
PricewaterhouseCoopers Corporate Finance Inc. was the exclusive
financial advisor to Quasar.
About Trinity Industries
Trinity Industries, Inc., headquartered in Dallas, Texas, owns
businesses that are leading providers of rail transportation
products and services in North America. Our businesses market their
railcar products and services under the trade name TrinityRail®.
The TrinityRail platform provides railcar leasing and management
services, as well as railcar manufacturing, maintenance and
modifications. Trinity reports its financial results in two
reportable segments: the Railcar Leasing and Management Services
Group and the Rail Products Group. For more information, visit:
www.trin.net.
Some statements in this release, which are not historical facts,
are “forward-looking statements” as defined by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements about Trinity's estimates,
expectations, beliefs, intentions or strategies for the future, and
the assumptions underlying these forward-looking statements,
including, but not limited to, future financial and operating
performance, future opportunities and any other statements
regarding events or developments that Trinity believes or
anticipates will or may occur in the future, including the
potential financial and operational impacts of the COVID-19
pandemic. Trinity uses the words “anticipates,” “assumes,”
“believes,” “estimates,” “expects,” “intends,” “forecasts,” “may,”
“will,” “should,” “guidance,” “projected,” “outlook,” and similar
expressions to identify these forward-looking statements.
Forward-looking statements speak only as of the date of this
release, and Trinity expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein to reflect any change in
Trinity’s expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based,
except as required by federal securities laws. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from historical experience or our
present expectations, including but not limited to risks and
uncertainties regarding economic, competitive, governmental, and
technological factors affecting Trinity’s operations, markets,
products, services and prices, and such forward-looking statements
are not guarantees of future performance. For a discussion of such
risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements, see “Risk
Factors” and “Forward-Looking Statements” in Trinity’s Annual
Report on Form 10-K for the most recent fiscal year, as may be
revised and updated by Trinity’s Quarterly Reports on Form 10-Q,
and Trinity’s Current Reports on Form 8-K.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220531005294/en/
Investor Contact: Leigh Anne
Mann Vice President, Investor Relations Trinity Industries, Inc.
(Investors) 214/631-4420
Media Contact: Jack L. Todd
Vice President, Public Affairs Trinity Industries, Inc. (Media
Line) 214/589-8909
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