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Cemex-wise investor takes TXI stake

Published Sunday, October 01, 2006

Officials from Longleaf Partners Small-Cap Fund in Providence, R.I., have disclosed a 12.7 percent stake in Dallas-based Texas Industries Inc. Affiliated with Memphis-based Southeastern Asset Management, Longleaf Partners promotes investment in “undervalued companies.” With a market capitalization of about $1.2 billion, TXI is the largest publicly held cement operator in the U.S., and seventh largest domestic powder producer. A 2001-2007 expansion program for its Texas and California mills will see annual capacity climb from 5 million to 7.5 million tons. The company's appeal to investors stems from strong powder positions in those high-growth states, which combined account for ...

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