CHICAGO, Nov. 7 /PRNewswire-FirstCall/ -- GATX Rail today announced that
is has ordered a total of 5,000 railcars from Trinity Industries, to be
delivered evenly over the next five years. This order completes GATX's
previously announced 7,500 car, five-year railcar purchase program. In
October, GATX Rail signed an agreement with Union Tank Car Company for the
supply of 2,500 cars to be delivered evenly over the next five years. GATX
expects that this purchase program will provide high quality, modern railcars
to meet the needs of its customers and to replace cars retired from its
existing fleet.
Under terms of the agreement with Trinity, GATX will purchase 1,000 cars
from Trinity Industries in each of the next five years, to be manufactured and
configured according to strict GATX Rail specifications.
David M. Edwards, president of GATX Rail, stated, "Our company is focused
on providing superior service and high quality equipment to our customers.
Completing this railcar purchase program allows GATX to enhance its market-
leading position in tank and freight cars through the acquisition of new
railcars at very attractive pricing."
Clifford J. Porzenheim, senior vice president of fleet management at GATX
Rail, stated, "We are excited to begin a new chapter in our relationship with
Trinity Industries. GATX Rail offers one of North America's largest, most
diverse lease fleets of railcars to its customers, and our position is
strengthened through this long-term supply agreement with Trinity. With
GATX's purchase program now in place, it is expected that additional cars, if
justified by demand, will be ordered from any of GATX's six North American
railcar suppliers."
GATX RAIL
GATX Rail is a division of GATX Financial Corporation, a wholly owned
subsidiary of GATX Corporation (NYSE: GMT). GATX is a specialized finance and
leasing company combining asset knowledge and services, structuring expertise,
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.
Investor, corporate, financial, historical financial, photographic and
news release information may be found at http://www.gatx.com .
SOURCE GATX Corporation
back to top
