Rail Connection forms JV with ITE Management

Rail Connection Inc. (RCI), a subsidiary of Appalachian Railcar Services Inc. (ARS), has formed a joint venture with ITE Management L.P. with the purpose of acquiring, leasing and operating railcars, the company announced on May 8, 2015.

The joint venture, dubbed Rail Connection L.L.C., will initially own nearly 2,000 railcars and is actively acquiring railcars to grow the business and asset base. Kurt Higginbotham will serve as President of the joint venture and continue as the Vice President of RCI, which will handle the day-to-day operations of the fleet.

The joint venture will focus on building its fleet through acquisitions to provide the best-in-class service to its customer base and has the capacity to grow substantially to meet customer needs, RCI said.