Marubeni buys into Australia
RJV: Marubeni Corp has signed a deal to acquire a 49% stake in the Australian arm of Chicago Freight Car Leasing Co for an undisclosed price. Rail Joint Venture has a A$200m fleet of 37 locomotives and 805 grain and container wagons on lease across Australia.
CFCLA Managing Director Ian Gibbs said the March 27 deal will allow the company to grow and diversify its business. ‘Having Marubeni’s support will make it a lot easier for us and we will work with them to expand the rail leasing business’, he said.
CFCLA is looking at further rail investments in the mine and port markets, particularly in the Pilbara region, where it works closely with BHP Billiton. The company works with FreightLink on its Adelaide - Darwin services, and sees potential in the Queensland and Hunter Valley coal markets.