January 12, 2006
Trinity Marine in long term agreement with Ingram Barge
Trinity Industries, Inc.(NYSE: TRN) says that its Trinity Marine Products subsidiary has reached a long-term agreement to provide barges to Ingram Barge Company that contract calls for the construction of dry cargo units for a number of years. The terms were not disclosed except that the agreement protects Trinity with cost escalation coverage.
"We are very pleased to enter into this agreement with Ingram. As the barge market continues to strengthen, it is important for Trinity to maintain its position of leadership," said Timothy R. Wallace, Trinity's Chairman, President and CEO. "This order helps us to minimize the effects of the barge industry's cyclicality and provides us with the opportunity to achieve long-term productivity improvements."
"We have maintained a solid relationship with Ingram for many years," said Paul Mauer, President of Trinity's Inland Barge Group. "This further strengthens our relationship and ensures that we will continue to work together in the barge industry for the long-term."