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PR News Wire (Free subscription) | 21/10/2008
Vote Demonstrates Stockholder Dissatisfaction With The Company's
Performance
CAYMAN ISLANDS, Oct. 21 /PRNewswire/ -- NNS Holding, the largest
stockholder of Texas Industries (NYSE: ), today announced that at the
Annual Meeting of TXI stockholders, based on information from NNS' proxy
solicitor, Innisfree M&A, Inc., nearly 50% of the votes cast (representing
nearly 40% of the shares outstanding) were...
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The Dallas Business Journal (Free subscription) | 20/10/2008
The battle of the letters continued Monday between the leaders of cement-maker Texas Industries Inc. and majority shareholder Nassef Sawiris, an Egyptian businessman who has advised other shareholders to withhold their votes for the re-election of two TXI board of directors on Tuesday. (TXI)
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PR News Wire (Free subscription) | 20/10/2008
DALLAS, Oct. 20 /PRNewswire-FirstCall/ -- Texas Industries, Inc. (NYSE:
TXI) today announced that RiskMetrics Group (formerly known as ISS) has
reaffirmed its recommendation that Texas Industries' shareholders vote FOR
Texas Industries' slate of directors. Texas Industries, Inc. announced last
week that PROXY Governance, Inc., another major independent proxy advisory
firm, likewise reaffirmed its recommendation...
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Dallas Morning News (Free subscription) | 20/10/2008
In a Sept. 12 letter to TXI chief executive Mel Brekhus, made public this month, Mr. Sawiris said he wanted to boost his stake in the company to 25 percent. He proposed that the company's board amend a stockholder rights plan that effectively bars him from increasing his holdings. In addition, he wants to be represented on the board.
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PR News Wire (Free subscription) | 16/10/2008
DALLAS, Oct. 16 /PRNewswire-FirstCall/ -- Texas Industries, Inc. (NYSE:
TXI) today announced that PROXY Governance, Inc. ("PROXY Governance") has
reaffirmed its recommendation that Texas Industries' shareholders vote FOR
Texas Industries' slate of directors.
In its report released October 16, 2008, PROXY Governance concluded:
"While the company faces strong near-term headwinds, particularly in
Southern...
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The Dallas Business Journal (Free subscription) | 15/10/2008
Senior management at Texas Industries Inc. sent a letter to shareholders Tuesday asking them to avoid a majority shareholder’s request that all shareholders withhold their votes during the upcoming board of directors election. Directors up for re-election include Sam Coats and Thomas Ransdell.
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The Dallas Business Journal (Free subscription) | 08/10/2008
Nassef Sawiris, an Egyptian executive who owns nearly 15 percent of Texas Industries Inc.’s stock, has sent a letter to the company’s shareholders, petitioning them to oust two board directors, including Sam Coats, a former Dallas mayoral candidate.
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The Dallas Business Journal (Free subscription) | 02/10/2008
Texas Industries Inc. shareholder Nassef Sawiris, who owns about 15 percent of the cement manufacturer’s stock, recently sent a letter to Texas Industries’ top brass indicating his disappointment in the company’s performance and his desire to have a presence on the company’s Board of Directors. (TXI)
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Dallas Morning News (Free subscription) | 01/10/2008
“I am further frustrated by the company’s failure to set forth any detailed plan to deal with the significant challenges the company faces, which I believe is having a detrimental effect on shareholder value,” Mr. Sawiris wrote in an Oct. 1 letter to TXI chief executive Mel Brekhus, which was filed with the Securities and Exchange Commission.
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Dallas Morning News (Free subscription) | 26/09/2008
Shares of Texas Industries Inc. slipped Friday after two Wall Street analysts slashed the cement maker's full-year fiscal 2009 earnings estimate a day after the company reported disappointing quarterly results. The Dallas-based company reported Thursday its fiscal first-quarter results fell sharply as cement sales declined in California due to drop off in construction levels. Revenue also fell nearly...
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The Dallas Business Journal (Free subscription) | 25/09/2008
Cement maker Texas Industries Inc. saw its first quarter profit fall 40 percent during the most recent period ending Aug. 31. (TXI)
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Dallas Morning News (Free subscription) | 25/09/2008
Texas Industries Inc. said Thursday its fiscal first-quarter results fell sharply as cement sales declined in California, where construction levels have dropped off. Net income in the three months ended Aug. 31 dropped to $10.7 million, or 38 cents per share, from $17.9 million, or 64 cents per share, in the year-ago period. The latest period included after-tax income of $2.9 million, or 10 cents per...
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The Dallas Business Journal (Free subscription) | 18/08/2008
Cement maker Texas Industries Inc. will be suspending the operations of all wet kilns located at its Midlothian Cement Plant and laying off 90 employees serving in this production area, the company said in a letter to the Texas Workforce Commission. (TXI)
