Finance / Leasing

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Mitsui combines with JA Mitsui Leasing, Norinchukin for North American Railcar leasing Mitsui & Co. Ltd. has entered into an agreement with JA Mitsui Leasing Ltd. (JAML) and The Norinchukin Bank for their participation in Mitsui Rail Capital LLC (MRC), which operates a railcar leasing business in North America. JAML and Norinchukin will acquire shares of MRC through their newly established special purpose company, JAML MRC Holding, Inc. (JMRCH). Following this transaction, Mitsui and JMRCH will hold 50% of MRC’s equity shares, respectively.

am-refinances-locomotives-with-rrif-loan
In 2013, the Arkansas & Missouri Railroad (A&M) substantially improved its locomotive fleet by acquiring three EMD SD70AC3 road units. The Federal Railroad Administration (FRA) on May 29, 2015 issued a $6.8 million Railroad Rehabilitation and Improvement Financing (RRIF) loan...
zander-joins-element-financial-rail-division
Toronto-based Element Financial Corp. has appointed railroad equipment finance veteran Harry Zander as Senior Vice President Sales in Element’s Rail Finance division. He reports to President, Element Rail & Aviation David McKerroll. Zander joins Element from Macquarie Rail, where he served...
carolina-worrell-joins-railway-age-as-managing-editor
Carolina Worrell has joined Railway Age as Managing Editor, based at Simmons-Boardman Publishing Corp.’s headquarters in New York City. A graduate of City University of New York-Hunter College, Worrell honed her skills at Dodge Data & Analytics (formerly McGraw Hill Construction),...
greenbrier-reports-record-second-quarter
The Greenbrier Companies Inc. (GBRX), Lake Oswego, Ore., released its financial results April 7, 2015, for its second fiscal quarter, which ended on Feb. 28, 2015. The results show net earnings attributable to GBRX for the quarter were $50.4 million, or...
mitsui-combines-with-ja-mitsui-leasing-norinchukin-for-north-american-railcar-leasing
Mitsui & Co. Ltd. has entered into an agreement with JA Mitsui Leasing Ltd. (JAML) and The Norinchukin Bank for their participation in Mitsui Rail Capital LLC (MRC), which operates a railcar leasing business in North America. JAML and...

gw-concludes-freightliner-acquisition
Genesee & Wyoming Inc. on March 25, 2015 completed the acquisition of approximately 94% of Britain’s Freightliner Group Ltd. for approximately US$733 million (at current exchange rates), plus the assumption of approximately US$29 million (at current exchange rates) of...
senators-introduce-45g-tax-credit-measure
Eight U.S. Senators this week introduced the Short Line Railroad Rehabilitation and Investment Act of 2015, designed to extend Section 45G (26 USC 45G) short line track maintenance tax credits that expired in 2014, the American Short Line and Regional...
transnet-financing-aids-big-locomotive-buy
South Africa's Transnet said Monday, March 2, 2015 it has concluded financing to acquire 1,064 locomotives, estimated to cost $4.3 billion, for its Transnet Freight Rail subsidiary, which were ordered from four suppliers one year ago. CSR Zhuzhou Electric Locomotive, China,...
galveston-to-reboot-diesel-streetcar
Galveston, Tex.'s City Council, in a 6-to-1 vote Thursday, Feb. 26, 2015, approved proceeding to re-establish the citys 6.8-mile diesel trolley car operation, which was discontinued in 2008. Galveston plans to use Federal Emergency Management Agency (FEMA) funds, insurance proceeds, and...
m-1-rfp-seeks-detroit-streetcar-operator
M-1 streetcar representatives on Wednesday, Feb. 25, 2015 said the public-private organization has issued a Request for Proposals (RFP) seeking an operator for Detroit's 3.3-mile initial streetcar line. M-1 has scheduled a preproposal conference for March 13, with RFPs due for...

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