DALLAS–(BUSINESS THREAD)–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 freight cars and new construction tank over a period of six years. GATX has the option to order an additional 500 railcars in each order year. Under the terms of the deal, Trinity will deliver 6,000 tank cars at a rate of 1,200 cars per year from 2024 to 2028. The remaining 9,000 cars, which may be a mix of freight and tank cars, will be ordered at a rate of 1,500. cars per year order from 2023 to 2028 and delivered according to a schedule to be determined.
“This multi-year railcar order with GATX represents the extension of a strong partnership,” said Jean Savage, CEO and President of Trinity. “We are proud of the relationship we have built with GATX and pleased that they have once again selected TrinityRail as North America’s premier railcar manufacturer.”
Mrs. Savage continued, “At Trinity, we continue to believe that our ability to provide railcars to shippers, railroads and other leasing companies gives us the broadest view of industry trends and dynamics and ultimately generates strong returns for our shareholders. “.
About Trinity Industries
Trinity Industries, Inc., headquartered in Dallas, Texas, owns companies that are leading providers of rail transportation products and services in North America. Our companies market their highway products and services under the trade name TrinityRail®. O TrinityRail The platform offers wagon leasing and management services, as well as wagon manufacturing, maintenance and modifications. Trinity reports its financial results in two reportable segments: the Wagon Leasing and Management Services Group and the Rail Products Group. For more information, visit: www.trin.net.
Certain statements in this release, which are not historical facts, are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Trinity’s estimates, expectations, beliefs, intentions or strategies. 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 about events or developments that Trinity believes or anticipates will occur or may occur in the future, including the possible financial and operational impacts of the COVID-19 pandemic. Trinity uses the words “anticipates”, “assumes”, “believes”, “estimates”, “expects”, “intends”, “anticipates”, “may”, “will”, “should”, “guide”, “project “. ,” “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 commitment to release any updates or revisions to any forward-looking statements contained herein to reflect any change in Trinity’s expectations with respect thereto or any change in the events, conditions or circumstances on which 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 experience historical or our current 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 u 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 more information. most recent fiscal year, as may be reviewed and updated by Trinity’s Quarterly Reports on Form 10-Q and Trinity’s Current Reports on Form 8-K.