First Union Rail: Announcement
First Union Rail has signed an agreement to purchase GE Railcar Services from GE Capital. The transaction, which will add to the existing fleet more than 77,000 railcars and just over 1,000 locomotives as well as associated operating and long-term leases, is expected to close by end of Q1 2016. Terms of the transaction are not being disclosed.
The acquisition of GE's railcar and locomotive fleet will make First Union Rail the second largest and most diverse railcar and locomotive leasing company in North America.
Click here to see full press release announcement.
About First Union Rail
First Union Rail operates one of the largest and most diverse railcar leasing companies in North America. We have a solid industry reputation for providing superior equipment and exceptional service. As a subsidiary of Wells Fargo, one of the largest bank holding companies in the United States with $1.2 trillion in assets, we have successfully combined the financial strength and expertise of our parent with one of the industry's largest privately owned railcar fleets.
First Union Rail offers a variety of customized finance and operating lease structures, as well as marketing and transportation management services. We have a wide selection of box cars, covered hoppers, gondolas, open-top hoppers, flat cars, tank cars, intermodal equipment and locomotives.
Our staff has decades of experience in the railcar leasing, locomotive leasing, and transportation industry. We are committed to delivering the right equipment to solve your transportation needs.