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Rail News: Rail Industry Trends

Trinity Industries sells rail-car repair facilities

Trinity Industries Inc. recently reached an agreement with Rescar Inc. under which Rescar will purchase Trinity's existing rail-car repair facilities for cash and supply parts for a portion of Trinity's other related rail-car businesses. Terms weren't disclosed.

Subject to certain conditions, including financing, the deal is expected to close by January's end.

"This move will allow Trinity Rail to focus on its core businesses of designing, manufacturing, leasing and managing rail cars," said Trinity Rail Group Chief Executive Officer Michael Flannery in a prepared statement.

Privately held Rescar offers maintenance services to companies that own or lease rail cars, including mechanical repairs, exterior painting, and interior coating and cleaning.

Trinity owns 16 rail-car repair facilities in 12 states. Executives in the company's car-repair business based in Dallas will assume new responsibilities within Trinity Industries; those based in other locations are expected to continue serving in their current roles.

Contact Progressive Railroading editorial staff.

More News from 12/19/2002