Supply Side: Savage, GATX
Savage joins Cyclyx 10 to 90® program to help reduce plastic waste. Also, GATX Corporation (GATX) announces BBB+ Long-Term Issuer Default Rating (IDR) from Fitch Ratings, Inc. (Fitch).
GATX Corp.
People News: GATX, Bentley, APTA
GATX’s Trifleet Leasing Holding B.V. appoints Erik Henstra as Managing Director. Also, Bentley Systems names Michael Campbell Chief Product Officer and expands the responsibilities of four executives; and the American Public Transportation Association (APTA) selects new Vice Chair and announces Executive Committee and Board of Directors nominees.
KCS, CP, GATX, Rotary, NASCO Team for a ‘Butterfly Effect’ (Updated)
Here’s something probably not too many rail industry people know: The migration path of the Monarch Butterfly, recently declared an endangered species, closely follows the alignment of the combined north-south Canadian Pacific and Kansas City Southern networks, which (pending merger approval by the Surface Transportation Board) will in early 2023 merge to form CPKC (Canadian Pacific Kansas City), North America’s first transnational freight railroad.
2022 Guide to Equipment Leasing: Railcars Join the Sports Car Set
RAILWAY AGE, JUNE 2022 ISSUE: Car shopping has become one of the more unpleasant pandemic chores.
GATX 1Q22: ‘Conditions Continue to Strengthen’
North American railcar utilization higher than 99% and lease renewals of 80% helped drive a solid first-quarter 2022 for GATX. Net income and diluted EPS more than doubled, compared to the year-ago period.
Greenbrier Joins RailPulse Coalition
The Greenbrier Companies, Inc., has signed on with RailPulse, a coalition of railcar owners, builders and operators whose aim is to “aggregate North American railcar fleet data on a single platform” to increase safety and the visibility of customer goods.
GATX CEO Kenney to Pass Throttle to Lyons in 2022
Brian A. Kenney will retire as GATX Corp. President and CEO on April 22, 2022, the company reported on Dec. 7. The Board of Directors has elected 24-year GATX veteran Robert C. Lyons to succeed him as CEO.
GATX 3Q21: ‘Demand Strong, Lease Rates Rise’
“We continue to see improvement across our global railcar leasing markets,” GATX Corp. President and CEO Brian A. Kenney said during a third-quarter 2021 earnings report on Oct. 21; he noted fleet utilization increased to 99.2% at quarter end for North America, and remained high at 98.1% for GATX Rail Europe.
GATX 2Q21: ‘We Continued to See Improvement’
Despite posting company-wide financials in the second quarter of 2021 that dropped significantly from the prior-year period, GATX Corp. said it remains optimistic, as indicated by strong improvements in its two rail business units.
RailPulse Moves Forward on Telematics Platform
The RailPulse℠ joint venture has selected Princeton Consultants to design its technology platform that “will facilitate and accelerate the adoption of telematics across the North American railcar fleet.”