CHICAGO, July 19 /PRNewswire/ -- GATX Corporation announced today that it
will provide 4 sets of GATX TankTrain(R) equipment to Minneapolis-based NRG
Power Marketing. GATX's patented TankTrain(R) technology will allow NRG to
move #6 fuel oil between Albany, NY, and Oswego, NY, with reduced time for
loading and unloading the cars to gain the maximum benefit of large volume
rail transportation.
The GATX TankTrain(R) system is a string of tank cars connected by
flexible hoses, which enables the user to quickly and easily load and unload
large volumes of liquid commodities. At a rate of up to 3,000 gallons per
minute for certain commodities, an 18-car train can load in less than
2.5 hours, compared to more than 25 hours that would be required to load the
same commodity into 18 conventional tank cars.
NRG Power Marketing, ranked the 49th largest power marketing company by
the Power Marketing Association Online's Power Report, is a subsidiary of NRG
Energy, Inc. (NYSE: NRG), the fifth largest independent power producer in the
world.
"We are excited to be able to enjoy the lower cost of transporting product
by rail, while taking advantage of the efficiency that GATX's TankTrain(R)
system offers in loading and unloading," said Marc DeVarennes, NRG's director
of oil management.
Rob Zmudka, vice president-Midwest sales for GATX said, "The TankTrain(R)
system solution provides an economical and environmentally sound
transportation option for a high volume shipper like NRG. This is a wonderful
opportunity for both our organizations and we are optimistic that this could
lead to other TankTrain(R) placements to complement NRG's product movement
strategy in conjunction with their aggressive growth plans."
GATX Rail Corporation is a wholly owned subsidiary of GATX Corporation
(NYSE: GMT), a specialized finance and leasing company. GATX uniquely
combines asset knowledge and services, structuring expertise, creative
partnering and risk capital to serve customers and partners worldwide. In
addition to railcar and locomotive leasing, GATX specializes in aircraft
operating leasing, information technology leasing, and venture and diversified
finance.
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.
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.
SOURCE GATX Corporation
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Related links:
http://www.gatx.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/105121.html
CONTACT:
George Lowman of GATX Corporation,
+1-312-621-6599
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