TXI
{{Short description|Manufacturing company}}
{{Infobox company
| name = TXI
| logo = File:TXI_company_logo.png
| type = Subsidiary
| parent = Martin Marietta Materials, Inc
| industry = Cement
| products = Cement, aggregate, concrete
| foundation = 1946
| location_city = Dallas, Texas
| location_country = United States
| key_people = Melvin G. Brekhus
(President and CEO, Director)
| homepage = {{URL|http://www.txi.com}}
}}
TXI, formerly Texas Industries, is a wholly owned subsidiary. The company was focused on the production of heavy construction materials in the southwestern United States market (e.g. Texas and California).
TXI mainly focuses on cement, Portland, masonry and oil well cements, aggregates, and other concrete related products. Until 2012, Texas Industries owned 82 manufacturing facilities in six states.{{Cite web |url=https://www.reuters.com/finance/stocks/lookup |title=Company Search Results |website=U.S. |language=en |access-date=2018-05-19}}
History
{{incomplete list|date=January 2014}}
TXI was founded in 1946. In 1994, with an annual revenue of $614M, the company ranked 500th on the Fortune 500 list by annual revenue.{{cite news|last=Carmody|first=Deirdre|newspaper=The New York Times|title=THE MEDIA BUSINESS; Fortune Adds Service Sector To Its '500' List Of Corporations|date=1995-04-24|url=https://www.nytimes.com/1995/04/24/business/the-media-business-fortune-adds-service-sector-to-its-500-list-of-corporations.html}}In 1994, the Fortune 500 list ranked industrial companies. It did not include service companies.
In January 2014, Martin Marietta Materials (MLM), a rival provider of construction materials, agreed to buy TXI for $2.06 billion in stock. The combined company will operate under the name Martin Marietta with 7,000 employees and headquarters in Raleigh, N.C., Martin Marietta’s current home.{{cite news|url=http://www.foxbusiness.com/industries/2014/01/28/martin-marietta-materials-inc-said-it-would-buy-texas-industries-inc-for-about/|title = Martin Marietta Scores $2B Deal for Texas Industries|first=Matthew|last=Rocco|date=January 28, 2014}}{{Update after|2014|7|1|reason=Need to update this in a few months - 6 months after the announcement looks like a good time to do the update. Either the merger went through, it is still pending, or it was called off. If it went through, consider merging this article with that of its new parent company.}}
As of July 2, 2014, TXI became a wholly owned subsidiary of Martin Marietta Materials, Inc.{{Cite news|url=http://www.marketwatch.com/story/martin-marietta-materials-completes-texas-industries-acquisition-2014-07-02|title=Martin Marietta Materials Completes Texas Industries Acquisition|work=MarketWatch|access-date=2018-05-19|language=en-US}} TXI is now headquartered in Dallas, Texas.
Key facilities
TXI cement plant in [[Midlothian, Texas on January 27, 2007|thumb]]
Its Midlothian plant on the south side of Midlothian, Texas ({{coord|32|27|43|N|97|1|21|W|region:US_type:landmark}}) is about {{convert|27|mi|km}} south of downtown Dallas. When the plant was built it was the largest cement plant in the country.
;Former key facilities
The Chaparral Steel plant is next to TXI's cement plant in Midlothian. Chaparral Steel was spun off from TXI and later purchased by Gerdau in 2007 for $4.2 billion.{{Cite news|url=https://www.nytimes.com/2007/07/11/business/11steel.html|title=Gerdau Ameristeel Acquires Chaparral|agency=Reuters|date=2007-07-11|work=The New York Times|access-date=2018-05-19|language=en-US|issn=0362-4331}} At that time, Chaparral Steel was the second-largest producer of structural steel beams in North America and a major producer of steel bar product.
References
{{reflist}}
{{reflist|group=FN}}
External links
- [http://www.txi.com/ TXI Official Website]
- [https://msconcreteboise.com/ MS Concrete Construction]
- [https://www.gooplast.com/ Gooplast Construction Systems]
Category:1946 establishments in Texas
Category:Cement companies of the United States
Category:Manufacturing companies established in 1946
Category:Companies formerly listed on the New York Stock Exchange
Category:Manufacturing companies based in Dallas