Trinity Industries, Inc. Announces $1.8B Multi-Year Railcar Order
03 Oktober 2022 - 02:40PM
Business Wire
Trinity Industries, Inc. (NYSE:TRN) (“Trinity”) announced that
its subsidiary, Trinity Rail Group, LLC, has entered into a new
long-term railcar supply agreement with GATX Corporation (“GATX”)
to deliver a mix of 15,000 newly built tank and freight railcars
over a six-year period. GATX has the option to order an additional
500 railcars in each order year. Under the terms of the agreement,
Trinity will deliver 6,000 tank cars at a rate of 1,200 cars each
year from 2024 through 2028. The remaining 9,000 cars, which can be
a mix of freight and tank cars, will be ordered at a rate of 1,500
cars per order year from 2023 to 2028 and delivered under a
schedule to be determined.
“This multi-year railcar order with GATX represents the
extension of a strong partnership,” said Jean Savage, Trinity’s
Chief Executive Officer and President. “We are proud of the
relationship we have built with GATX and pleased that they have
once again selected TrinityRail as the premier North American
railcar manufacturer.”
Ms. Savage continued, “At Trinity, we continue to believe that
our ability to provide railcars for shippers, railroads, and other
leasing companies gives us the broadest view into trends and
dynamics in the industry and, ultimately, drives strong returns for
our shareholders.”
About Trinity Industries
Trinity Industries, Inc., headquartered in Dallas, Texas, owns
businesses that are leading providers of rail transportation
products and services in North America. Our businesses market their
railcar products and services under the trade name TrinityRail®.
The TrinityRail platform provides railcar leasing and management
services, as well as railcar manufacturing, maintenance and
modifications. Trinity reports its financial results in two
reportable segments: the Railcar Leasing and Management Services
Group and the Rail Products Group. For more information, visit:
www.trin.net.
Some statements in this release, which are not historical facts,
are “forward-looking statements” as defined by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements about Trinity's estimates,
expectations, beliefs, intentions or strategies for the future, and
the assumptions underlying these forward-looking statements,
including, but not limited to, future financial and operating
performance, future opportunities and any other statements
regarding events or developments that Trinity believes or
anticipates will or may occur in the future, including the
potential financial and operational impacts of the COVID-19
pandemic. Trinity uses the words “anticipates,” “assumes,”
“believes,” “estimates,” “expects,” “intends,” “forecasts,” “may,”
“will,” “should,” “guidance,” “projected,” “outlook,” and similar
expressions to identify these forward-looking statements.
Forward-looking statements speak only as of the date of this
release, and Trinity expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein to reflect any change in
Trinity’s expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based,
except as required by federal securities laws. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from historical experience or our
present expectations, including but not limited to risks and
uncertainties regarding economic, competitive, governmental, and
technological factors affecting Trinity’s operations, markets,
products, services and prices, and such forward-looking statements
are not guarantees of future performance. For a discussion of such
risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements, see “Risk
Factors” and “Forward-Looking Statements” in Trinity’s Annual
Report on Form 10-K for the most recent fiscal year, as may be
revised and updated by Trinity’s Quarterly Reports on Form 10-Q,
and Trinity’s Current Reports on Form 8-K.
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version on businesswire.com: https://www.businesswire.com/news/home/20221003005222/en/
Investor Contact: Leigh Anne
Mann Vice President, Investor Relations Trinity Industries, Inc.
(Investors) 214/631-4420 Media
Contact: Jack L. Todd Vice President, Public Affairs
Trinity Industries, Inc. (Media Line) 214/589-8909
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