MRC Transitioning to Full JAML Ownership

Written by William C. Vantuono, Editor-in-Chief
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JA Mitsui Leasing Ltd. (JAML), through its subsidiary JAML MRC Holding, Inc., and Mitsui & Co., Ltd. (Mitsui) have entered into a definitive agreement for JAML to take full ownership of North American railcar leasing company Mitsui Rail Capital, LLC (MRC), currently a JAML/Mitsui joint venture. The deal, in which MRC will become a JAML consolidated subsidiary, is expected to close by March 31.

“JAML has been a joint venture partner with Mitsui for MRC since 2015, so it’s very familiar with our business, which will make this a smooth transition,” MRC President Kevin Cook said. “JAML is focused on expanding its presence in North America and is very supportive of our strategic growth initiatives at MRC.”

MRC “has built a diverse portfolio of rail freight cars deployed across a wide range of industrial sectors including energy, food, manufacturing and construction,” Cook noted. “In addition, MRC has built a strong reputation for its customer service, which has been the foundation of the business since its establishment in 1996.”

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