Texas Industries and Chaparral spin-off

Texas Industries and Chaparral spin-off
Published: 08 July 2005

Building materials producer Texas Industries Inc. said on Thursday that its board has approved the spinoff of its Chaparral Steel Co. unit in a tax-free stock dividend.  Texas Industries shareholders will receive one share of Chaparral for each share they own in a distribution to be completed on July 29. The spinoff will leave Texas Industries with cement, aggregate and concrete operations.