Press release from GlobeNewswire (a Nasdaq OMX company)
TXI Achieves Operational Status of New Kiln Line and Accelerates Upgrade Projects at the Hunter Cement Plant
Monday, May 20, 2013
TXI Achieves Operational Status of New Kiln Line and Accelerates Upgrade Projects at the Hunter Cement Plant09:56 EDT Monday, May 20, 2013
DALLAS, May 20, 2013 (GLOBE NEWSWIRE) -- Texas Industries, Inc. (NYSE:TXI) announced today that its Texas subsidiary has achieved operational status of its second kiln at its Hunter cement plant, near New Braunfels, Texas. Following a successful commissioning process which began in November of 2012, the 1.4-million ton state-of-the art kiln line has realized its design performance capabilities and is producing efficiently. "The success of this process is the direct result of the hard work of a dedicated team. The challenges faced when starting up a new kiln line are many, and the teamwork and communication of our people made all the difference," stated Jamie Rogers, TXI's Vice President and Chief Operating Officer.
The company also announced today that it will accelerate maintenance and upgrade projects on the original production line, Kiln 1, to more quickly meet the growing needs of the marketplace. Pending successful completion of plant maintenance and equipment upgrades, TXI expects to bring Kiln 1 back online during the first quarter of 2014. Combined with the newly-added capacity of Kiln 2, the upgrades will enable TXI Hunter to efficiently produce and ship approximately 2.3 million tons of cement each year, more than double its original capability.
"We initially projected a more extended period of downtime for the original line after Kiln 2 was brought into full operational status. However, market conditions in central and south Texas continue to point to sustained recovery and strength, and we simply need the additional capacity earlier than originally thought," Rogers added. "It is clear that TXI's mission to serve our customers is best met by utilizing all of our capacity in as swift a manner as feasible."
Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the impact of competitive pressures and changing economic and financial conditions on our business, the cyclical and seasonal nature of our business, the level of construction activity in our markets, abnormal periods of inclement weather, unexpected periods of equipment downtime, unexpected operational difficulties, changes in the cost of raw materials, fuel and energy, changes in the cost or availability of transportation, changes in interest rates, the timing and amount of federal, state and local funding for infrastructure, delays in announced capacity expansions, ongoing volatility and uncertainty in the capital or credit markets, the impact of environmental laws, regulations and claims and changes in governmental and public policy, and the risks and uncertainties described in our reports on Forms 10-K, 10-Q and 8-K. Forward-looking statements speak only as of the date hereof, and we assume no obligation to publicly update such statements.
TXI is the largest producer of cement in Texas and a major cement producer in California. TXI is also a major supplier of construction aggregate, ready-mix concrete and concrete products.
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