Trinity Industries, Inc. 2011 Annual Report
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TRINITY INDUSTRIES, INC. 2011 ANNUAL REPORT TRINITY INDUSTRIES, INC. Annual Report 2011 Trinity Industries, Inc. 2525 Stemmons Freeway • Dallas, Texas 75207-2401 • 214.631.4420 • www.trin.net TRINITY’S BOARD OF DIRECTORS John L. Adams Ronald J. Gafford Charles W. Matthews Chairman, Chairman, Chief Executive Officer, Retired General Counsel Trinity Industries, Inc. is a multi-industry Group 1 Automotive, Inc. and President, and Vice President, Austin Industries, Inc. Exxon Mobil Corporation Rhys J. Best Retired Chairman Ron W. Haddock Diana Natalicio, Ph.D. company that owns a variety of market-leading and Chief Executive Officer, Chairman, AEI President, Lone Star Technologies, Inc.; Chairman, Safety-Kleen Systems, Inc. The University of Chairman, Crosstex Energy LP Texas at El Paso businesses which provide products and Adrian Lajous David W. Biegler Chairman, Douglas L. Rock Chairman and Chief Executive Officer, Oxford Institute for Energy Studies Retired Chairman, services to the industrial, energy, Southcross Energy LLC Chief Executive Officer, Melendy E. Lovett and President, Leldon E. Echols Senior Vice President and President, Smith International, Inc. transportation, and construction sectors. Private Investor; Retired Education Technology, Executive Vice President Texas Instruments Incorporated Timothy R. Wallace and Chief Financial Officer, Chairman, Chief Executive Officer, Centex Corporation and President, Trinity Industries, Inc. TRINITY’S CORPORATE OFFICERS Timothy R. Wallace S. Theis Rice Mary E. Henderson Chairman, Chief Executive Officer, Senior Vice President, Human Vice President, Chief Accounting and President Resources and Chief Legal Officer Officer, and Controller James E. Perry Madhuri A. Andrews John M. Lee Trinity’s Businesses Are Senior Vice President Vice President, Vice President, and Chief Financial Officer Information Technology Business Development Antonio Carrillo Donald G. Collum Gail M. Peck MARKET LEADERS Senior Vice President Vice President Vice President and Treasurer and Group President and Chief Audit Executive Heather P. Randall Standard Forged Products, William A. McWhirter II Virginia C. Gray, Ph.D. Vice President, Legal Affairs LLC is a leading Senior Vice President Vice President, and Government Relations and Group President Organizational Development manufacturer in North Jared S. Richardson America of railcar axles D. Stephen Menzies Associate General Counsel and large circular forgings. Senior Vice President and Secretary and Group President TRINITY’S OPERATING EXECUTIVES Rail Executives Construction, Marine, Parts Energy Equipment Executives & Components Executives D. Stephen Menzies Antonio Carrillo Group President William A. McWhirter II Group President ® represents Group President TrinityRail Roger D. Wynkoop Kerry S. Cole the combined resources Chief Commercial Officer, Nikhil Amin President, of the leading railcar TrinityRail; President, President, Trinity Structural Towers, Inc. Trinity Industries Leasing Company Trinity Logistics Group, Inc. manufacturer in North Kevin Keith Jesse Crews Carl Campbell Chief Financial Officer, America and a leading Chief Investment Officer, President, Energy Equipment Group provider of railcar leasing Trinity Industries Leasing Company Transit Mix Concrete & Materials Company Luis Pardo and management services. McConway & Torley, LLC Robert S. Hulick President, Executive Vice President Gregory B. Mitchell Trinity Industries de Mexico is a leading manufacturer and Chief Mechanical Officer, President, in North America of Trinity Marine Products, Trinity Industries Leasing Company Trinity Highway Products, LLC railcar coupling devices. Inc. is a leading U.S. Eric R. Marchetto Patrick S. Wallace Vice President President, manufacturer of inland and Chief Financial Officer, Trinity Parts & Components, LLC barges and fiberglass TrinityRail barge covers. Paul E. Mauer Chief Operations Officer, TrinityRail Trinity’s businesses provide capital goods and services ranging from railcars to barges, aggregates and concrete to tank containers, highway products to structural wind towers, railcar parts to crash cushions, and railcar leasing and management services. Our vision is to be a premier, multi-industry growth company that provides superior products and services to customers while generating high-quality earnings and returns for shareholders. We expect to accomplish this through: • the strength of our businesses’ market leadership positions • the depth of our operational capabilities • the quality and talents of our people • a commitment to excellence and continuous improvement Trinity Containers, LLC is a leading manufacturer in North America of tank containers. Trinity Structural Towers, Inc. is a leading manufacturer in North America of structural wind towers. Trinity Highway Products, LLC and Energy Absorption Systems, Inc. are leading U.S. manufacturers of highway products. Trinity Materials, Inc. and Transit Mix Concrete & Materials Company are leading suppliers of aggregates and concrete in select markets within Texas and neighboring Trinity Industries de Mexico, states. using the brand name TATSA®, is a leading manufacturer in Mexico of tank containers. TRN 2011 ANNUAL REPORT 1 Trinity’s Five BUSINESS SEGMENTS TRINITY’S RAILCAR GROUP Trinity’s rail manufacturing companies offer the most diversified railcar product line available in North America. They include leading producers of freight cars, tank cars, railcar axles, and coupling devices. Trinity North American Freight Car, Inc. manufactures a full line of freight cars, including covered and open hoppers, gondolas, auto carriers, box cars, and intermodal cars. Trinity Tank Car, Inc. produces a full line of tank cars that transport pressurized and non-pressurized commodities. Trinity’s three railcar parts and components companies include Standard Forged Products, LLC, which manufactures railcar axles and circular products; McConway & Torley, LLC, which manufactures coupling devices; and Trinity Parts & Components, LLC, which manufactures and sells replacement railcar parts and components. McConway & Torley also makes higher strength alloy specialty castings, as well as steel ingots of various alloy combinations, for large equipment manufacturers. TRINITY’S RAILCAR LEASING AND MANAGEMENT SERVICES GROUP Trinity’s Railcar Leasing and Management Services Group is comprised primarily of Trinity Industries Leasing Company (TILC), a leading provider in North America of comprehensive rail industry services including railcar leasing, management, and administration. Trinity’s Railcar Leasing and Management Services Group provides flexible leasing and service options that allow customers to focus on their core businesses. TILC offers a variety of railcar leasing alternatives, including full service, net, and per diem leases on either new Trinity-manufactured railcars, or railcars from TILC’s lease fleet. TILC also offers management and administrative services, including regulatory compliance, rail fleet optimization, asset and inventory management, and railcar maintenance and repair. Sales and marketing activities for all of Trinity’s rail-related businesses are coordinated under TrinityRail, providing a single point of contact for customers seeking rail equipment and services. 2 TRN 2011 ANNUAL REPORT TRINITY’S INLAND BARGE GROUP Trinity’s Inland Barge Group is comprised primarily of Trinity Marine Products, Inc., a leading U.S. manufacturer of barges used to transport cargo on U.S. inland waterways. Trinity Marine Products manufactures dry cargo barges, including flat-deck and hopper barges that are used to transport a variety of products, including grain, coal, and aggregates. Trinity Marine Products also manufactures tank barges that carry petroleum, fertilizer, ethanol, chemicals, and other liquid cargoes. It is the largest U.S. manufacturer of fiberglass hopper barge covers used primarily on grain barges. Under the brand name Nabrico®, Trinity Marine Products provides a full line of deck hardware to the marine industry, including hatches, castings, and winches for towboats and dock facilities. TRINITY’S ENERGY EQUIPMENT GROUP Trinity’s Energy Equipment Group includes leading manufacturers of structural wind towers and tank containers. Trinity Structural Towers, Inc. is a leading manufacturer of structural wind towers for the wind energy industry in North America. Trinity Structural Towers has manufacturing facilities in the United States and Mexico, and partners with Trinity’s trucking company to provide logistical support and transportation services that facilitate the delivery of structural wind towers to wind farms. Trinity Containers, LLC is a leading manufacturer of tank containers in North America. The company’s product lines include tanks for residential use, and specialized containers for a wide variety of products and applications. Trinity Industries de Mexico, using the brand name TATSA, is a leading tank containers manufacturer in Mexico. Trinity Industries de Mexico also produces a variety of metal products for other Trinity businesses and external customers. Trinity Heads, Inc. produces tank heads for a variety of containers and railcars. TRINITY’S CONSTRUCTION PRODUCTS GROUP Trinity’s Construction Products Group includes leading manufacturers of highway guardrail and crash cushions, truck-mounted attenuators, and flexible post delineators, as well as leading suppliers of aggregates and concrete in select markets within Texas and neighboring states. Trinity Highway Products, LLC