DALLAS--(BUSINESS WIRE)--Trinity Industries, Inc. (NYSE:TRN) recently announced its intention to pursue a plan to spin-off the Company’s infrastructure-related businesses to Trinity stockholders. Today, Trinity is pleased to announce that Scott Beasley, currently the Group Chief Financial Officer of Trinity’s Construction, Energy, Marine and Components businesses, has accepted a role as the future Chief Financial Officer of the new infrastructure company upon completion of the spin-off.
James E. Perry, Trinity’s Senior Vice President and Chief Financial Officer, will remain in his current role with Trinity following completion of the planned spin-off. Mr. Perry joined Trinity in 2004, and is in his eighth year as the Company’s CFO.
Mr. Beasley, 37, has served in his current role since 2017. Mr. Beasley joined the Company in 2014 and previously served as Vice President of Corporate Strategic Planning for Trinity Industries.
Prior to joining Trinity, Mr. Beasley was an Associate Principal with McKinsey & Company, a global management consulting firm, where he led client engagements across the transportation, energy, and industrial sectors. Previously, he worked at McMaster-Carr Supply Company for several years as an operations manager. Mr. Beasley earned a Bachelor of Arts in Economics from Duke University, and an MBA from Northwestern University’s Kellogg School of Management.
“I am pleased that James and Scott will be serving the two companies in the Chief Financial Officer roles,” said Timothy R. Wallace, Trinity’s Chairman, President and Chief Executive Officer. “Both James and Scott have contributed greatly to Trinity’s success and will play key roles in the future for the respective companies. Each of them will help to provide continuity for both companies as we prepare for the spin-off and after the transaction has been completed.”
Trinity Industries, Inc., headquartered in Dallas, Texas, is a diversified industrial company that owns complementary market-leading businesses providing products and services to the energy, chemical, agriculture, transportation, and construction sectors, among others. Trinity reports its financial results in five principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group, and the Energy Equipment 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. Forward-looking statements may include, but are not limited to, statements regarding the anticipated separation of Trinity into two separate public companies, the expected timetable for completing the transaction, future financial and operating performance of each company, benefits and synergies of the transaction, strategic and competitive advantages of each company, future opportunities for each company and any other statements regarding events or developments that Trinity believes or anticipates will or may occur in the future. Trinity uses the words “anticipates,” “assumes,” “believes,” “estimates,” “expects,” “intends,” “forecasts,” “may,” “will,” “should,” “guidance,” “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. There is no assurance that the proposed transaction will be completed, that the Company's Board of Directors will continue to pursue a proposed transaction (even if there are no impediments to completion), that the Company will be able to separate its businesses, or that the proposed transaction will be the most beneficial alternative considered. 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, as well as any changes in or abandonment of the proposed separation or the ability to effect the separation and satisfy the conditions to the proposed separation, 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 the Company's Annual Report on Form 10-K for the most recent fiscal year, and as may be revised and updated by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.