Texas Industries (NYSE:TXI) is a supplier of heavy construction materials in the southwestern United States. Busines segments include cement, aggregates, and consumer products. The two largest markets that the company serves are Texas and California. TXI was hit hard during the economic downturn on two fronts. The downturn in housing indirectly affected the company, even though the bulk of its revenue is not tied to housing in the way a homebuilder or homebuilding products company would be. The bigger impact to business for TXI came from a tightening of the purse string by state governments, which control the infrastructure spending dollars for new roads and other state funded construction projects. In what would turn out to be an...
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