CHICAGO, March 22 /PRNewswire/ -- GATX Corporation (NYSE: GMT) announced
today that it has finalized its acquisition of Dyrekcja Eksploatacji Cystern
(DEC) -- Poland's national tank car fleet and fuel distribution company. A
subsidiary of GATX Rail Corporation, GATX Rail Overseas Holding Corporation,
has purchased 100 percent of the shares of DEC for 350,000,000 Zlotys
(approximately U.S. $84 million). Additional terms of the transaction were
not announced.
Mr. Ward Fuller, president and CEO of GATX Rail Europe stated, "We are
extremely pleased to have successfully concluded this key strategic
transaction. Poland is a pivotal gateway between Eastern and Western Europe
and, as such, provides a unique platform for growth. We are excited about
working with the men and women of DEC to optimize DEC's 11,500 tank car fleet
and its maintenance network, introducing new products and services to help
DEC's customers achieve their objectives and goals and, finally, cooperating
closely with PKP, one of Europe's largest railroads, to facilitate and support
the growth of rail transportation throughout Poland.
"Through this investment, we expect that our company will participate in
the anticipated growth opportunities in the petroleum, chemical and food
sectors. We are certainly looking forward to a dynamic and prosperous future
here in Poland and hope we can all work together to make this particular
privatization an exemplar of a successful privatization for all constituents
-- the employees of DEC, our customers and suppliers, GATX's shareholders and
the citizens and government of Poland."
Aldona Kamela-Sowinska, Polish Minister of the State Treasury, stated,
"The new owner of DEC is a well-known international company with extensive
expertise. I am convinced that the position and renown of GATX Corporation is
a guarantee of development and investment opportunities for DEC, which will
enable it to achieve a stable market position and increase its competitive
advantage."
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 sophisticated 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.
FORWARD LOOKING STATEMENTS
This press release includes statements which may constitute forward-
looking statements made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. This information may involve risks
and uncertainties that could cause actual results to differ materially from
the forward-looking statements. Although the company believes that the
expectations reflected in such forward-looking statements are based on
reasonable assumptions, such statements are subject to risks and uncertainties
including but not limited to general conditions, including demand and pricing
in its primary rail, air, technology, and diversified equipment leasing
markets, opportunities for asset resale within these markets, and stable labor
conditions within the company's rail service network. These factors and
others could cause actual results to differ materially from those projected.
FOR FURTHER INFORMATION CONTACT:
Analysts and Investors Media
Robert C. Lyons George S. Lowman
GATX Corporation GATX Corporation
312-621-6633 312-621-6599
Investor, corporate information and press releases may be found at
http://www.gatx.com . A variety of current financial information, historical
financial information, press releases and photographs are available at this
site. GATX press releases may be obtained by automated PR News Company News
On-Call's automated fax service at 800-758-5804. The company identification
number for GATX is 105121.
SOURCE GATX Corporation
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http://www.gatx.com
Company News On-Call:
http://www.prnewswire.com/comp/105121.html or fax,
800-758-5804, ext. 105121
CONTACT:
Analysts and Investors, Robert C. Lyons,
312-621-6633, or Media, George S. Lowman, 312-621-6599, both of
GATX Corporation
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