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).
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Cement |
| Founded | 1946 |
| Headquarters | , |
Key people | Melvin G. Brekhus (President and CEO, Director) |
| Products | Cement, aggregate, concrete |
| Parent | Martin Marietta Materials, Inc |
| Website | www |
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.[1]
History
editTXI was founded in 1946. In 1994, with an annual revenue of $614M, the company ranked 500th on the Fortune 500 list by annual revenue.[2][FN 1]
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.[3][needs update]
As of July 2, 2014, TXI became a wholly owned subsidiary of Martin Marietta Materials, Inc.[4] TXI is now headquartered in Dallas, Texas.
Key facilities
edit
Its Midlothian plant on the south side of Midlothian, Texas (32°27′43″N 97°1′21″W / 32.46194°N 97.02250°W) is about 27 miles (43 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.[5] 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.[5]
References
edit- ^ "Company Search Results". U.S. Retrieved 2018-05-19.
- ^ Carmody, Deirdre (1995-04-24). "THE MEDIA BUSINESS; Fortune Adds Service Sector To Its '500' List Of Corporations". The New York Times.
- ^ Rocco, Matthew (January 28, 2014). "Martin Marietta Scores $2B Deal for Texas Industries".
- ^ "Martin Marietta Materials Completes Texas Industries Acquisition". MarketWatch. Retrieved 2018-05-19.
- ^ a b "Gerdau Ameristeel Acquires Chaparral". The New York Times. Reuters. 2007-07-11. ISSN 0362-4331. Retrieved 2018-05-19.
- ^ In 1994, the Fortune 500 list ranked industrial companies. It did not include service companies.