CIT Group announced that CIT Rail, the third largest railcar lessor in North America, has placed orders for an additional 3,000 tank cars from multiple manufacturers. Deliveries are scheduled to begin in 2014.

 “These new car orders demonstrate CIT Rail’s commitment to supporting our customers’ growth initiatives,” said George Cashman, President of CIT Rail. “We continue to build our fleet and maintain one of the youngest fleets in the industry, offering rail carriers and shippers modern, high-capacity equipment that maximizes their loading efficiencies while transporting goods.”

Including these orders, since the beginning of 2011, CIT Rail has placed orders for $1.8 billion in new railcars.
 
CIT Rail owns more than 100,000 railcars and 450 locomotives leased to approximately 500 customers and provides financial solutions to the bulk freight transportation marketplace. It supports the North American transportation system by working with freight shippers, receivers and carriers to customize financial solutions for each customer’s individual needs.