VTG purchases railcar leasing company Redwood Rail

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HAMBURG, Germany — VTG Rail Inc. has purchased the railcar fleet leasing company Redwood Rail in a business arrangement that will add more than 1,100 railcars to its fleet. VTG will also assume the associated leases as well as Redwood Rail’s existing customer base, according to a news release issued by the company.

The business decision will expand VTG’s total fleet to about 5,200 railcars.

The railcars inherited from Redwood include hoppers used to transport grain, cement, sand, plastic products, and cars used to transport timber. The acquisition also ads two undisclosed Class I railroad partners and a global commodities company to VTG's portfolio.

Financial terms of the arrangement were not disclosed.

NEWSWIRETrains News Wire

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  • June 27, 2017
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