Trinity Industries to buy ABB's utility steel structures division for $600M

|About: Trinity Industries Inc. (TRN)|By:, SA News Editor

Trinity Industries (TRN) agrees to acquire ABB's Meyer Steel Structures business for ~$600M.

TRN says the acquisition helps build a leadership position in the electric transmission and distribution industry, and confirms its long-term commitment to the utility steel structures business.

ABB, which is pruning its portfolio under new CEO Ulrich Spiesshofer, says the sale reflects the limited synergies of the steel structures business with its core business.