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Greenbrier to lease and operate GATX's Mexican plant

GATX Corp. recently agreed to provide The Greenbrier Cos. a long-term lease for a rail-car maintenance facility in Tierra Blanca, Mexico.

Gunderson Rail Services, Greenbrier's rail services business unit, will operate the facility. In addition, Greenbrier entered into a long-term maintenance service agreement with GATX under which Gunderson will repair and service freight cars for GATX — which operates a fleet of 6,000 cars in Mexico — and other customers in the country.

GATX has owned and operated the facility since 1994, when it purchased the shop from the former government-run FNM Railroad. The facility provides tank-car and general freight-car repairs, including cleaning, painting and lining.

"This transaction ... will enhance our ability to provide high-quality maintenance services to our Mexican customers," said GATX Executive Vice President and Chief Operating Officer James Earl in a prepared statement.

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More News from 10/2/2007