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12/19/2002



Rail News: Rail Industry Trends

GATX Rail assumes total ownership of European rail-car lessor


GATX Rail recently acquired the remaining interest in companies comprising KVG Kesselwagen, a European rail-car lessor. Terms weren't disclosed.


Since 1997, GATX Rail has held a minority interest in KVG, including 9,500 tank and specialized cars. The leasing company also owns an interest in nearly 30,000 other European cars.


"With the acquisition of KVG, we will have an expanded and more efficient platform from which to pursue [European] opportunities," said GATX Rail Europe President D. Ward Fuller in a prepared statement.


KVG founders Rainer Baumgarten and Gernot Schwayer will remain with the company, which plans to continue expanding its relationship with DEC, GATX Rail's car lessor in Warsaw, Poland.


Contact Progressive Railroading editorial staff.

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