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GATX announces long-term wagon order

03 Aug 2018

USA: Leasing company GATX Corp has entered into an agreement to purchase 7 650 wagons from American Railcar Industries over five years from April 2019.

The order announced on August 1 covers a mix of tank and other types of wagon, and there is an option for up to 4 400 more.

‘This provides GATX with cost-advantaged railcars to grow our large and diverse fleet in North America’, said GATX President & CEO Brian A Kenney. ‘The timing of this order is consistent with our expectation of a gradual recovery in the railcar leasing market.  Combined with the 4 800 railcar extension of our existing committed supply agreement announced earlier this year, the bulk of our committed railcar orders now deliver in 2020 and beyond.’