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USA: ITE Management has purchased the North American wagon assets of CK Industries, saying the ‘highly productive, well-maintained’ fleet would directly benefit the ‘breadth and flexibility’ of its wagon leasing business.

CK Industries is a privately held company with wagon leasing business in France and Germany, and launched its US leasing operations in 1980.

ITE has acquired the assets in partnership with rail investor RESIDCO; terms were not disclosed.

The transaction announced on December 1 is ITE’s second acquisition this year, after its American Industrial Transport American Industrial Transport purchased The Andersons’ leasing business for $550m in August which added more than 20 000 wagons to take AITX’s fleet to 60 000 vehicles.