CHICAGO, Feb. 26 /PRNewswire/ -- GATX Rail Corporation reported today that
the employees of its domestic service centers have approved a new labor
contract. The new contract replaces one that expired on September 15, 2000,
and covers the 340 workers at four railcar repair facilities located in
Waycross, Ga., Hearne, Texas, East Chicago, Ind., and Colton, Calif.
Terrence G. Heidkamp, GATX Rail's senior vice president of maintenance
stated, "We are extremely pleased that our employees have voted to accept this
contract that provides the framework for delivering quality customer service
while enhancing the overall efficiency and competitive position of the GATX
Rail service centers. Our most important priority now is to get the service
centers back to productive capacity levels to ensure that we meet our
customers ongoing railcar repair requirements."
GATX Rail Corporation is a wholly-owned subsidiary of GATX Corporation
(NYSE: GMT), a unique finance and leasing company combining asset knowledge
and services, structuring expertise, creative partnering and risk capital.
GATX provides extensive leasing and financial services responsive to the
specialized needs of a range of businesses. In addition to offering railcar
and locomotive operating leasing, GATX specializes in aircraft operating
leasing, information technology services leasing, venture finance, and
financing solutions for customers in diversified markets, worldwide.
SOURCE GATX Rail Corporation
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CONTACT:
George Lowman of GATX Corporation,
312-621-6599
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