GATX India Private Limited (“GIPL”), a subsidiary of GATX Corporation (NYSE:GMT), today announced its entry into the Indian marketplace with the purchase of ten newly manufactured rakes, each consisting of 45 container flat wagons. GIPL has agreed to lease the rail wagons to Arshiya Rail Infrastructure Ltd., a subsidiary of Arshiya International Ltd., for ten years. This transaction will allow Arshiya to efficiently scale its rail fleet. Brian A. Kenney, president and chief executive officer of GATX Corporation said, “We are pleased to be the first leasing company registered under Indian Railways’ Wagon Leasing Scheme. We believe rail wagon leasing in India will provide an attractive growth opportunity for GATX, and we are honored to enter this market with Arshiya Rail Infrastructure, one of India’s leading and pioneering container train operators.” Commenting on the lease agreement, Ajay S. Mittal, group chairman and managing director of Arshiya International Ltd said, “This is a strategic partnership for Arshiya. GATX has a strong legacy in rail equipment leasing, and we are confident this relationship will help us provide improved value to our customers.” Saurabh Sood, managing director and country head of GIPL added, “Backed by our global expertise in design, safety and engineering, we have the capability to add efficiency to the entire Indian rail system. We look forward to working collaboratively with Indian Railways and our customers to efficiently grow rail freight traffic. We are committed to meeting the expectations of our customers and developing long-term relationships.” COMPANY DESCRIPTION GATX India Private Limited (“GIPL”), established as a subsidiary of GATX Corporation in 2010, provides rail wagon lease financing and related services. GIPL intends to be the leader in leasing of rail wagons in India. Leveraging over a century of operating experience and strong market and asset expertise in North America and Europe, GIPL will continue the tradition of providing quality assets and services to customers in India.
GATX Corporation (NYSE:GMT ) strives to be recognized as the finest railcar leasing company in the world by its customers, its shareholders, its employees and the communities where it operates. Controlling one of the largest railcar fleets in the world, GATX has been providing quality railcars and services to its customers for 114 years. GATX has been headquartered in Chicago, Illinois since its founding in 1898 and has traded on the New York Stock Exchange since 1916. For more information, visit the Company’s website at www.gatx.com .FORWARD-LOOKING STATEMENTS This document contains statements that may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are subject to the safe harbor provisions of those sections and the Private Securities Litigation Reform Act of 1995. Some of these statements may be identified by words like “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict,” “project” or other similar words. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those described in GATX’s Annual Report on Form 10-K for the year ended December 31, 2011 and other filings with the SEC, and that actual results or developments may differ materially from those in the forward-looking statements. Specific factors that might cause actual results to differ from expectations include, but are not limited to, (1) general economic, market, regulatory and political conditions affecting the rail, marine and other industries served by GATX and its customers; (2) competitive factors in GATX’s primary markets, including lease pricing and asset availability; (3) lease rates, utilization levels and operating costs in GATX’s primary operating segments; (4) conditions in the capital markets or changes in GATX’s credit ratings and financing costs; (5) risks related to compliance with, or changes to, laws, rules and regulations applicable to GATX and its rail, marine and other assets; (6) costs associated with maintenance initiatives; (7) operational and financial risks associated with long-term railcar purchase commitments; (8) changes in loss provision levels within GATX’s portfolio; (9) conditions affecting certain assets, customers or regions where GATX has a large investment; (10) impaired asset charges that may result from changing market conditions or portfolio management decisions implemented by GATX; (11) opportunities for remarketing income; (12) labor relations with unions representing GATX employees; and (13) the outcome of pending or threatened litigation.
Given these risks and uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis, judgment, belief or expectation only as of the date hereof. GATX has based these forward-looking statements on information currently available and disclaims any intention or obligation to update or revise these forward-looking statements to reflect subsequent events or circumstances.Investor, corporate, financial, historical financial, photographic and news release information may be found at www.gatx.com .