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Marubeni Corp. acquires Midwest Railcar

Japan’s Marubeni Corp. and its U.S. affiliate, Marubeni America Corp., recently acquired freight-car leasing and asset management firm Midwest Railcar Corp. (MRC).

Marubeni plans to double the size of MRC’s assets to meet strong leasing demand, the Japanese company said. Marubeni’s “financial strength and commitment to invest significant capital” in MRC will enable the firm to accelerate growth in its three core businesses: freight-car leasing, and rail-car management and brokerage, said MRC President and Chief Executive Officer Richard Murphy in a prepared statement.

“With this acquisition, Marubeni intends to expand the Midwest Railcar business model to other international regions, such as but not limited to Europe and Asia, in the very near future in order to meet the global demand in the railway and transportation industries,” he said.

MRC’s existing management team will continue to lead the company and manage the firm’s growth, said Murphy.

Established in 1998, MRC owns and manages a fleet of about 3,000 general freight cars that it leases to major railroads, and grain, food and mining companies.

Contact Progressive Railroading editorial staff.

More News from 12/4/2006