DALLAS (AP) -- Trinity Industries Inc. said Friday that it is buying underground construction equipment maker Armstrong Bros. Holding Co. for $40 million as it tries to expand its product offerings and customer base.
Trinity, which is a diversified industrial company, said the deal helps reposition its construction products segment to align with products that have more consistent demand.
Michigan-based Armstrong makes trench shields and shoring equipment for the underground construction industry. The deal includes working capital, rental fleet assets, associated manufacturing and operational facilities and certain patents and trademarks.
Shares of the Dallas-based company gained 56 cents to close at $34.73.