GATX's Mexican arm acquires Joseph Transportation's Mexican rail-car fleet (5/16/2002)


On May 13, GATX Rail announced that GATX de Mexico S.A. de C.V. recently acquired 2,700 rail cars from Joseph Transportation, a privately held leasing and transportation-management company. Terms of the transaction weren't disclosed.

The acquisition expands GATX Rail's presence in Mexico, complements the finance and leasing company's U.S. and Canadian fleets, and enhances its strategy of providing seamless service across North America, said GATX Rail President David Edwards in a prepared statement.

With the additional specialized-freight, box, and tank cars, GATX de Mexico controls a 6,200-car fleet, which company officials believe helps position the company as the country's largest rail-car lessor.

GATX de Mexico plans to use the cars to serve a number of industries, including manufacturing, chemical and food.

Joseph Transportation plans to retain its U.S. rail-car fleet, a Joseph official says.

Source: Progressive Railroading Daily News