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Rail News: Rail Industry Trends

Ferromex becomes TTX's first new owner in 43 years

Ferrocarril Mexicano S.A. de C.V. (Ferromex) has joined TTX Co.'s rail-car pool and owner roster — TTX's first new owner in 43 years. TTX is owned by North American railroads that use the car pool.

The addition of Ferromex enhances international rail moves into and out of Mexico, TTX said.

"This is an important step for our company," said TTX President and Chief Executive Officer Andrew Reardon in a prepared statement. "With Ferromex, we will extend the benefits of TTX's time-tested business model to an important and growing participant in the North American rail marketplace."

For the railroad, becoming a TTX owner will ensure a reliable supply of rail cars, maximize equipment efficiency through pooling and reduce transportation costs, said Ferromex Chief Commercial Officer Rogelio Velez.

Mexico's largest railroad, Ferromex operates more than 5,000 miles of track, handles 40 percent of all Mexican rail freight and serves five major seaports. The railroad interchanges more than 300,000 cars annually with U.S. and Canadian railroads and manages a fleet of 15,000 cars.

TTX manages a fleet of more than 200,000 flat and box cars, and gondolas in North America. Based in Chicago, the company has been providing car, information and accounting services since 1955.

Contact Progressive Railroading editorial staff.

More News from 2/26/2008