Trinity Partners to Build Barges in Argentina

Business Wire, Oct 12, 1999

DALLAS--(BUSINESS WIRE)--Oct. 12, 1999--

Trinity Industries Inc. (NYSE:TRN) President, Chairman, and CEO, Tim Wallace, announced today that the company has entered into a joint venture agreement with SANYM, S.A., an Argentine barge manufacturer, to produce and sell river barges in South America.

SANYM, whose facilities are located in Buenos Aires, is ideally situated to tap the growing demand for cargo transport on the Paran-Paraguay river system. This system links the vast soybean and grain producing regions of Argentina, Bolivia, Brazil and Paraguay to the Atlantic Ocean.

"Grain exports from the Mercosur region are growing significantly, with Brazil already one of the largest producers of soybeans in the world," said Doug Schneider, Trinity group president responsible for international expansion.

The new joint venture is currently building hopper barges specially designed for use on the Paran-Paraguay waterway. South American demand for barges is expected to be strong in coming years because more than half of the existing fleet of barges is over 20 years old and in need of replacement. Since river transportation is underdeveloped in South America, as compared to the United States, this joint venture is a great opportunity for Trinity.

"We are excited about the opportunity to enter this promising market, and we believe SANYM is the ideal partner to help us become a market leader," said Tim Wallace. "Joining forces with SANYM is another step in advancing our strategy of international expansion."

Trinity Industries Inc., with headquarters in Dallas, is one of the nation's leading diversified industrial growth companies. Trinity operates through five principal product divisions: a Railcar Group, an Industrial Group, a Highway Construction Products Group, an Inland Barge Group, and a Concrete and Aggregate Group.