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News Stories (59 Results) - Rail

U.S. railroads experienced a further deterioration of their price advantage for domestic intermodal shipping compared to trucking in the second quarter, according to a new index by IHS Markit. This latest contraction in the domestic intermodal... Read Story
August 30, 2019, 07:05 AM


U.S. railroads experienced a further deterioration of their price advantage for domestic intermodal shipping compared to trucking in the second quarter, according to a new index by global business information provider IHS Markit. This latest... Read Story
August 19, 2019, 07:05 AM


ECN Capital Corp. announced it has closed the sale of Element Rail Leasing I (ERL I) representing approximately 55 percent of its rail finance portfolio to affiliates of Trinity Industries Leasing Company on the terms previously announced.ECN Capital... Read Story
October 18, 2018, 07:05 AM


CIT Group Inc. announced it has completed the sale of NACCO, its European rail leasing business, for net proceeds of $1.1 billion based on current exchange rates. The sale was completed in two separate transactions and included approximately $1.2... Read Story
October 05, 2018, 07:20 AM


FreightCar America, Inc. announced it has hired Dan Wallace, who will become the Vice President and General Manager, Leasing at FreightCar America. Wallace has over 15 years of experience in all facets of railcar leasing. Most recently, he was the... Read Story
August 20, 2018, 07:22 AM


Stonebriar Commercial Finance announced the closing of SCFET 2018-1, a $578 million asset-backed securitization transaction. It marks the fourth equipment securitization transaction Stonebriar has closed in the last 24 months and its first to secure... Read Story
June 01, 2018, 07:30 AM


FreightCar America announced that it has entered into an asset purchase agreement with Navistar, Inc. to acquire substantially all of Navistar’s operating assets associated with its railcar operations at the Shoals facility in Cherokee, Alabama. The... Read Story
February 27, 2018, 07:05 AM


Mitsubishi UFJ Lease & Finance Company Limited ("MUL") announced executive appointments to MUL Railcars, Inc. ("MULR") leadership team.  Kent Boskovich has been appointed Chief Commercial Officer. Boskovich has more than 20 years executive management... Read Story
January 15, 2018, 07:12 AM


Mitsubishi UFJ Lease & Finance Company Limited ("MUL") announced that it opened an MUL Railcars, Inc. ("MULR") office in Portland, Oregon. The new office serves as the base of operations for the Company's railcar leasing business in the U.S. MUL has... Read Story
December 14, 2017, 07:07 AM


The Wall Street Journal reported that GE may be seeking to exit from its railroad business as new Chief Executive John Flannery seeks to steamline the company. According to the WSJ report, the company is exploring options for the GE Transportatin... Read Story
October 27, 2017, 07:05 AM


ECN Capital Corp. announced that it has entered into agreements to sell $1,487 million of Railcar Assets to affiliates of ITE Management L.P. and Napier Park Global Capital for proceeds of approximately $1,439 million (collectively, the “Railcar... Read Story
August 09, 2017, 07:10 AM


CIT Group announced that it reached a definitive agreement to sell NACCO, the European rail leasing business, to German-based VTG Aktiengesellschaft (VTG) for a purchase price of EUR 780 million, or $890 million USD based on current exchange rates... Read Story
July 05, 2017, 07:15 AM


The Greenbrier Companies and Tokyo-based Mitsubishi UFJ Lease & Finance (MUL) completed agreements to expand their existing commercial relationship in North America consistent with the parties' Memorandum of Understanding announced in April. MUL... Read Story
June 02, 2017, 07:13 AM


The Greenbrier Companies, Inc.and Tokyo-based MUL announced execution of a Memorandum of Understanding (MOU) to substantially expand the parties' existing commercial relationship in North America. MUL intends to grow its portfolio from 5,000 railcars... Read Story
April 06, 2017, 07:16 AM


The board of directors of Sasser Family Holdings, Inc., (Sasser) announced that it has elected Jeff Walsh, formerly the company's COO, to be CEO effective February 15.  Walsh will replace Fred Sasser, who is stepping down after 36 years as chief... Read Story
February 08, 2017, 07:30 AM


Sumitomo Mitsui Banking Corp. (SMBC) announced that its railcar operating lessor and fleet management business, SMBC Rail Services LLC (SMBC Rail), has signed an agreement to purchase American Railcar Leasing LLC (ARL) from Icahn Enterprises L.P.The... Read Story
December 20, 2016, 07:15 AM


PNC Equipment Finance, LLC, a wholly-owned subsidiary of PNC Bank, N.A., announced the completion of its railcar solutions for corporate customers with the addition of full-service operating railcar leases. Features of this new rail solution for... Read Story
November 15, 2016, 07:10 AM


The Greenbrier Companies announced organizational changes in anticipation of the previously disclosed retirement of James T. Sharp, Executive Vice President and President of Greenbrier Leasing Corporation (GLC), at the end of December.  Sharp's... Read Story
October 17, 2016, 07:25 AM


Element Financial Corporation (“Element”), now Element Fleet Management Corp. (“Element Fleet”) and ECN Capital Corp. (“ECN Capital”) jointly announced the completion of the reorganization of Element into two separate publicly-traded companies (the... Read Story
October 04, 2016, 07:03 AM


FTR’s Shippers Conditions Index (SCI) for July, showing a miniscule improvement from June, remains at a near neutral reading of -0.1.  The index will continue to hover around equilibrium until early 2017 when steady increases in regulatory drag will... Read Story
September 27, 2016, 07:15 AM


NESCO, LLC announced that it has acquired V&H Leasing Services from V&H Inc. This acquisition will bring V&H’s rail rental business to NESCO’s newest division, NESCO Specialty Rentals. NESCO created the Specialty Rentals division in January to focus... Read Story
August 15, 2016, 07:15 AM


U.S. Bank has hired rail industry veteran Mike Keasling to serve as an equipment leasing specialist. Based in Chicago, Keasling joins the bank in a national role focusing on deepening existing and developing new client relationships in the rail... Read Story
July 12, 2016, 07:03 AM


FTR’s Shippers Conditions Index (SCI) for April rose marginally to a reading of 1.5, up from 0.4 in March.  The new reading reflects improved market conditions for shippers as freight demand remains sluggish.  The SCI is at its highest sustained... Read Story
July 06, 2016, 07:09 AM


Underscoring the weak industry conditions which will likely continue through at least the third quarter of 2016, Moody's Investors Service changed its industry outlook to negative from stable, as deep and long-lasting declines in freight volumes... Read Story
May 17, 2016, 07:05 AM


Stonebriar Commercial Finance ("SCF") announced that Jeff Griffin has joined the company as Vice President and Director of Rail Leasing, initiating SCF's origination efforts in the rail sector. Griffin joins SCF after spending the last 8 years with... Read Story
March 07, 2016, 07:11 AM


Three Chicago-based investors, affiliates of Allstate, Duchossois Capital Management, and CC Industries, Inc., announced the formation of a new freight railcar leasing company, Riverside Rail.  Earlier this week the investor group acquired 2,032... Read Story
March 07, 2016, 07:06 AM


The Greenbrier Companies announced that Mr. William Glenn, Senior Vice President and Chief Commercial Officer has decided to pursue opportunities outside the Company. Effective immediately, Mr. Glenn is relinquishing his responsibilities as Chief... Read Story
February 29, 2016, 07:00 AM


The Greenbrier Companies announced that its CFO, Mark J. Rittenbaum, has been promoted to the newly created position of Executive Vice President, Commercial, Leasing and Finance. Lorie L. Tekorius, Senior Vice President and Treasurer, has been... Read Story
February 03, 2016, 07:17 AM


Stonebriar Commercial Finance (SCF) provided $46.5 million loan financing for various transportation assets to accomplish a time sensitive year-end client objective.  The Borrower is a multi-billion dollar, near investment grade, mid-stream energy... Read Story
February 01, 2016, 07:14 AM


Trinity Industries, through its wholly-owned subsidiary, TrinityRail Asset Management Company, LLC (“TRAMCo”) announced the extension of its strategic railcar alliance with Element Financial Corporation. Under the extended alliance, Element is... Read Story
October 15, 2015, 07:05 AM


Stonebriar Commercial Finance LLC announced that it has provided $35 million lease financing to fund the purchase of 237 new rail cars. The lessee refines and supplies unbranded gasoline, ultra-low sulfur diesel, heating oil, jet fuel, asphalt... Read Story
July 15, 2015, 07:00 AM


The Wall Street Journal reported Sumitomo Mitsui Financial Group (SMFG) is interested in  General Electric's U.S. railway-leasing business, according to people familiar with the matter. According to The Wall Street Journal report, GE Capital Rail... Read Story
June 23, 2015, 07:15 AM


Trinity Industries announced that its subsidiary, Trinity Industries Leasing Company (“TILC”), has renewed its railcar leasing warehouse facility through April 2018, and increased its capacity from $475 million to $1 billion. “We are pleased to... Read Story
April 10, 2015, 07:00 AM


Element Financial Corporation (TSX:EFN) (“Element” or the “Company”), one of North America’s leading equipment finance companies, together with its wholly-owned subsidiaries Element Rail Leasing II LLC and Element Rail Leasing Canada LP, announced... Read Story
March 04, 2015, 06:00 AM


Element Financial Corporation announced that Mr. Harry Zander has been appointed as Senior Vice President Sales in Element’s Rail Finance vertical.“To expand Element’s presence in the North American rail finance market, we’ve brought on board a sales... Read Story
February 25, 2015, 07:00 AM


CIT Group Inc. announced that CIT Rail, a full service lessor and owner of one of the youngest, most diversified fleets of rail assets in North America and Europe, appointed Ken Pierson as Senior Vice President and General Manager, Locomotives. He... Read Story
June 03, 2014, 06:46 AM


The Greenbrier Companies, Inc. has entered an alliance with Mitsubishi UFJ Lease & Finance (MUL) through its subsidiary Greenbrier Leasing Company (GLC). MUL plans to acquire a portfolio of about $1 billion in leased railcar assets, both new and used... Read Story
May 23, 2014, 06:45 AM


Element Financial Corporation (“Element”) announced that it has entered into a US$200 million secured equipment financing agreement with Bridger, LLC (“Bridger”), an oil marketing and midstream logistics company based in Dallas, Texas. The facility... Read Story
May 13, 2014, 07:05 AM


Napier Park Global Capital LLC (“Napier Park”), a global alternative asset management firm, announced today that its Financial Partners team has completed the initial investment of the Napier Park Railcar Lease Fund, LLC (the “Railcar Lease Fund” or... Read Story
May 13, 2014, 05:59 AM


Element Financial Corporation announced that it has closed its third railcar lease portfolio with the purchase of a further US$118 million worth of leased railcars from Dallas-based Trinity Industries, the leading railcar manufacturer in North... Read Story
March 28, 2014, 06:30 AM


GATX Corporation announced its purchase of GE Capital Rail Services’ North American per diem boxcar fleet, consisting of more than 18,500 boxcars. The purchase price was approximately $340 million. Brian A. Kenney, president and chief executive... Read Story
March 25, 2014, 06:31 AM


CIT Group today announced the acquisition of Paris-based Nacco SAS (Nacco), one of the largest independent full service railcar lessors in Europe. Nacco owns more than 9,500 railcars and services over 150 customers in 16 countries. Dan DiStefano... Read Story
February 03, 2014, 06:45 AM


Element Financial (“Element” or the “Company”), announced that it has completed its second railcar portfolio acquisition with the purchase of a further US$396 million worth of leased railcars from Dallas-based Trinity Industries, the leading railcar... Read Story
January 29, 2014, 07:00 AM


Element Financial Corporation announced that it has closed its previously announced acquisitions comprised of approximately US$348 million worth of helicopter and railcar finance assets from GE Capital and Trinity Industries, Inc.... Read Story
December 20, 2013, 06:15 AM


Element Financial Corporation (“Element” or the “Company”) announced that it has entered into a strategic alliance with Trinity Industries (“Trinity”) to provide lease financing for up to $2 billion worth of railcars over the next two years. Element... Read Story
December 10, 2013, 07:03 AM


Union Leasing announced the recent acquisition of the Warminister, PA-based, privately-held company, Express 4 x 4 Truck. Express provides outsourced management and transportation solutions to companies requiring reliable, full-size power vehicles to... Read Story
December 09, 2013, 06:50 AM


Chicago Freight Car Leasing Co. named long-time employee Jay Wilensky to the role of Vice President, Accounting & Finance.  According to Chicago Freight Car Leasing President, Paul Deasy, "Jay has consistently modeled our values, demonstrated... Read Story
August 16, 2013, 07:02 AM


GATX Corporation announced organizational changes within its Rail North America segment. Thomas A. Ellman is appointed executive vice president and president, Rail North America. In this role, Mr. Ellman will continue to oversee the commercial... Read Story
June 28, 2013, 07:02 AM


Trinity Industries, Inc. announced it has partnered with an institutional investment fund, Napier Park Railcar Lease Fund LLC (the “Napier Park Fund”) and an additional co-investor who also invested in the Napier Park Fund, to create RIV 2013 Rail... Read Story
May 08, 2013, 07:05 AM


Transport Topics reported U.S. rail intermodal traffic posted the highest volume for the month of March on record, according to the Association of American Railroads.According to the report, March intermodal traffic rose 0.5% to 933,208 units over... Read Story
April 08, 2013, 06:48 AM


Key Equipment Finance announced it has named Andrew J. Falcone director, North American rail. In this role, Falcone will grow the company’s U.S. rail market presence, enhance its capabilities, expand relationships within the rail industry, and... Read Story
March 19, 2013, 07:27 AM


Chicago Freight Car Leasing Co., a premier lessor of railcars to industrial, agricultural, and food products shippers and railroads, announced that Todd Kahn has accepted the position of Vice President of Portfolio Management and Marketing.  In this... Read Story
February 01, 2013, 06:50 AM


FreightCar America reported results for the second quarter ended June 30, 2012, with revenues of $181.2 million and net income of $5.6 million. For the same quarter in 2011, the Company reported revenues of $97.6 million and net income of $0.2... Read Story
August 06, 2012, 07:10 AM


American Railcar Industries, Inc. (ARI) reported its second quarter 2012 financial results. "We are pleased with our strong financial performance, operating results and significant growth of our fleet of leased railcars," said James Cowan, President... Read Story
July 26, 2012, 07:00 AM


After a significant dip during the Great Recession, and a mild economic recovery, the U.S. freight economy, particularly for trucking, is projected to grow significantly in the years ahead, according to American Trucking Associations’ U.S. Freight... Read Story
July 10, 2012, 06:40 AM


CAI International, Inc., one of the world’s leading lessors of intermodal freight containers, reported that it has entered into an $85 million senior credit facility for the acquisition of rail cars. The senior credit facility is a three-year... Read Story
June 15, 2012, 07:00 AM


FreightCar America, Inc. reported results for the first quarter ended March 31, 2012, with revenues of $219.1 million and net income of $9.7 million. For the same quarter in 2011, the Company reported revenues of $72.2 million and a net loss of $1.3... Read Story
May 08, 2012, 06:00 AM


FreightCar America, Inc. today reported results for the fourth quarter ended December 31, 2011, with revenues of $187.1 million and net income of $8.5 million, showing substantial improvement versus the prior quarter and the fourth quarter of 2010.... Read Story
February 17, 2012, 06:30 AM


Progressive Railroading reported that in a survey of more than sixty executives in the railroad industry, in general, executives feel good about the year ahead despite the challenges facing the economy and industry. To follow are excerpts of... Read Story
February 09, 2012, 07:30 AM