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9/30/2002



Rail News: Rail Industry Trends

CIT Rail Resources ramps up lease fleet


CIT Rail Resources during the year's first half took delivery of 50 new General Motors Corp./Electro-Motive Division's switcher locomotives and 1,700 rail cars to expand its fleet.


The locomotive purchase, which comprises 10 GP15D and 40 GP20D road switchers, represents CIT Rail Resources' largest switcher order in more than 15 years, according to a prepared statement.


The company, which owns and manages a fleet of more than 45,000 rail cars and 500 locomotives, plans to lease the switchers, and center-beam, pressure-differential, cement and intermodal cars to Class Is, regionals and short lines.


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