GATX-DB Cargo Deal: Rail Car Acquisition Boosts European Freight

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Introduction

GATX Rail Europe (GRE), a subsidiary of GATX Corp., has agreed to acquire 6,000 rail cars from DB Cargo AG, with the transaction expected to conclude by the end of 2025. The deal will see GRE acquire the rail cars and lease them back to DB Cargo, subject to regulatory approvals.

GATX Rail Europe Acquisition

GATX Rail Europe (GRE) will acquire 6,000 rail cars from DB Cargo AG. Following the acquisition, GRE will lease the rail cars back to DB Cargo. This agreement is anticipated to finalize by the end of 2025, pending regulatory approvals. Christopher LaHurd, senior vice president-international of GATX, stated that the acquisition will diversify their portfolio and enhance their position in the European rail market. As of June 30, GRE’s fleet comprised 30,500 wagons. The acquired portfolio encompasses a variety of freight rail-car types. The financial terms, including the purchase price, will be disclosed upon completion of the transaction.

PNW Railcars Inc. Appointment

PNW Railcars Inc. appointed Keith Andersen as chief commercial officer in August. His responsibilities include driving revenue growth and improving operations. Andersen brings over 30 years of experience in rail-car leasing and operations, covering a wide array of rail car asset types. Before joining PNW, he held the position of senior vice president of sales at Wells Fargo–First Union Rail. He has held senior leadership roles throughout his career.

Company Summary

GATX Corp.: A company that owns GATX Rail Europe (GRE).

GATX Rail Europe (GRE): A subsidiary of GATX Corp. with a fleet of 30,500 wagons as of June 30.

DB Cargo AG: One of Europe’s largest freight-rail operating companies.

PNW Railcars Inc.: A subsidiary of Mitsubishi HC Capital Inc.

Mitsubishi HC Capital Inc.: The parent company of PNW Railcars Inc.

Conclusion

GATX Rail Europe will acquire 6,000 rail cars from DB Cargo AG, with the deal expected to close by the end of 2025. PNW Railcars Inc. appointed Keith Andersen as chief commercial officer in August.

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