CHICAGO, Sept. 28 /PRNewswire/ -- GATX Rail announced today that it has
signed a long-term agreement to be IMC Global Inc.'s (NYSE: IGL) largest
supplier of rail equipment. Using this agreement as a foundation, GATX Rail
could supply as much as two-thirds of IMC's rail equipment, resulting in the
leasing of up to an additional 1600 freight and tank cars.
IMC Global is the world's largest producer and marketer of concentrated
phosphates and potash crop nutrients for the agricultural industry. IMC is
also a leading global provider of feed ingredients for the animal nutrition
industry. IMC vice president of logistics, Bill Parr, stated, "In looking for
a partner, we had two primary goals: to lower the overall cost of our rail
fleet, and to manage our rail fleet more efficiently. GATX Rail is helping us
accomplish these objectives, and now we are looking forward to growing our
relationship as strategic partners."
Jim Earl, executive vice president at GATX Rail, commented, "We are proud
of our long-standing relationship with IMC and look forward to an enhanced
strategic alliance. We will be using the wealth of rail, financial, and
service expertise that we have accumulated to enable us to provide IMC with
innovative and cost effective transportation solutions."
GATX (NYSE: GMT) is 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. GATX specializes in railcar and locomotive leasing, aircraft
operating leasing, information technology leasing, venture finance and
diversified finance. GATX Rail is a division of GATX Financial Corporation, a
subsidiary of GATX Corporation.
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.
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 Rail
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Related links:
http://www.gatx.com
Company News On-Call:
http://www.prnewswire.com/comp/105121.html
CONTACT:
George Lowman of GATX Rail, +1-312-621-6599
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