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SMBC Rail acquires American Railcar Leasing


Sumitomo Mitsui Banking Corp. (SMBC) announced yesterday that its railcar operating lessor and fleet management business, SMBC Rail Services LLC (SMBC Rail), has completed its acquisition of American Railcar Leasing LLC.

The transaction creates a full-service lessor of long-lived rolling stock that offers "comprehensive" rail leasing solutions in North America, according to an SMBC press release.

The acquisition results in a combined fleet of more than 50,000 rail cars.

Based in Chicago, SMBC Rail will maintain an operating and sales office in St. Charles and St. Peters, Mo.

"The highly experienced work force and the combined rail-car fleets will allow SMBC Rail to better serve our overall customer base," said SMBC Rail President and Chief Executive Officer Gene Henneberry.

Financial terms of the acquisition were not disclosed.