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. Published under Cement News
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. Published under Cement News
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