Vertex Railcar Corp

Report: Vertex Railcar Owes Nearly $45.4MM reports that CRRC Yangtze Co. Ltd., owner of 22% of Vertex, claims nearly all of the $45.4 million in debt listed in the petition filed in U.S. Bankruptcy Court in Delaware. Two other Chinese companies—Wuhan Kemai Machinery Manufacturing Co. Ltd. and Wuhan Flying Free Logistics Co. Ltd.—list debts of $92,561 and $373,273, respectively.

Vertex Railcar manufacturing under way

Vertex Railcar Corp’s new freight car manufacturing facility in Wilmington, N.C., is being outfitted to produce 8,000 cars per year. However Vertex CEO Donald Croteau says that with the company’s ramp-up and with “market conditions being the way they are,” he expects that this year’s output will be between 2,500 and 3,000 cars.