Trinity Industries Acquires Platinum Energy Services

(RTTNews) - Trinity Industries, Inc. (TRN) said Monday that it has acquired the assets of Platinum Energy Services Corp. through a newly formed subsidiary.

Platinum Energy, based in Alberta, Canada, manufactures and resells oil and gas process and storage equipment, including various types of containers, separators, and treaters used at the well-site and in midstream locations. The company operates out of two leased facilities in Calgary and one owned facility in Redcliff, Alberta. Initial annual revenues are expected to be in the range of about $40 million to $45 million.

The assets and results of operations for the Platinum acquisition will be reflected in the Energy Equipment Group for financial reporting purposes.