Diversified industrial company Trinity Industries ( TRN) announced Monday that it signed a definitive agreement to sell its European rail business to International Railway Systems. The Dallas-based company expects the transaction to close within 14 days. "We are pleased to announce this transaction," the company said. "While the European railcar market has shown signs of recovery in recent months, we feel it is in the best interest of Trinity to dedicate more of our resources and assets to opportunities in North America." The terms of the transaction were not disclosed, and its financial impact will be recorded in the third quarter ending Sept. 30. The company does not expect a material financial impact to be recorded as a result of the transaction.