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2/18/2003



Rail News: Rail Industry Trends

CIT Rail Resources orders more than 3,000 rail cars


CIT Rail Resources recently placed orders with four car builders for 3,050 coal gons, and tank, cement, box, autoflood and pressure-differential cars.


The leasing company expects to take delivery during the next 12 months. The new cars bring CIT Rail Resources' 2002 order total to 5,200.


"In recent months, we have been re-evaluating our fleet car needs in response to a growing demand from existing and prospective [North American] customers for new equipment," said CIT Rail Resources President Stephen McClure in a prepared statement, adding that the company plans to take advantage of historically low rail-car prices.


CIT Rail Resources owns and manages a fleet of more than 45,000 cars — averaging seven years in age — and 500 locomotives.


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