CHICAGO — GATX Corp. has agreed to buy 2,000 newly-manufactured tank cars from Trinity Industries Inc. over a two-year period beginning in early 2008, with an option for an additional 1,000 tank cars thereafter.
GATX expects the Trinity order, together with other existing orders, to provide significant opportunity to enhance market share, meet customer demand and replace retired equipment with high quality tank cars, manufactured and configured according to strict GATX specifications.
“We are pleased to continue our long-standing relationship with Trinity,” said James F. Earl, executive vice president and chief operating officer. “Trinity offers a full range of railcars and excels at manufacturing multiple car types simultaneously, providing GATX with the flexibility to choose tank car configurations based on then-current market conditions. This order will enable us to acquire railcars at favorable new car pricing and provides improved ability to meet the needs of key GATX customers.”
GATX is one of the largest railcar and locomotive leasing companies in the world and one of the largest tank car and specialized railcar leasing companies in North America. GATX’s North American owned railcar fleet totaled approximately 111,000 cars on Sept. 30.
— Business Wire