Profile: GATX Corp (GATX.N)
21 Sep 2018
GATX Corporation, incorporated on July 5, 1916, is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through four business segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management. As of December 31, 2016, it owned fleet of approximately 146,300 railcars. It offers customers leasing, maintenance, asset, financial, and management expertise. It leases tank cars, freight cars, and locomotives in North America, tank cars and freight cars in Europe and freight cars in India and Russia. As of December 31, 2016, it also had an ownership interest in an affiliate investment that owned approximately 2,200 railcars, and it managed approximately 400 railcars for other third-party owners. The Company's rail customers primarily operate in the petroleum, chemical, food/agriculture and transportation industries. As of December 31, 2016, its railcar fleet consisted of diverse railcar types that its customers use to ship more than 550 different commodities.
Rail North America
Rail North America consists of its operations in the United States, Canada, and Mexico. Rail North America primarily provides railcars pursuant to full-service leases under which it maintains the railcars, pays advertisement valorem taxes and property insurance, and provides administrative and other ancillary services. As of December 31, 2016, Rail North America leased railcars for terms that ranged from 3 to 10 years. As of December 31, 2016, Rail North America also owned a fleet of locomotives, consisting of 631 older four-axle and 29 six-axle locomotives. Locomotive customers are primarily Class I, regional, and short-line railroads and industrial users. Rail North America also remarkets rail assets, including assets managed for third parties and an affiliate.
Rail International consists of its European operations (GATX Rail Europe (GRE)), an owned railcar leasing business in India (Rail India), and its operations in Russia (Rail Russia). GRE leases railcars to customers throughout Europe pursuant to full-service leases under which it maintains the railcars and provides value-adding services according to customer requirements. As of December 31, 2016 Rail India owned 777 railcars with estimated useful lives of 20-25 years. As of December 31, 2016, Rail Russia owned 170 railcars.
ASC operates fleet of the United States-flagged vessels on the Great Lakes. ASC provides waterborne transportation of dry bulk commodities, such as iron ore, coal, limestone aggregates, and metallurgical limestone, which serve end markets that include steel making, domestic automobile manufacturing, electricity generation, and non-residential construction. As of December 31, 2016, ASC's fleet consisted of 17 vessels. All of ASC's vessels are equipped with self-unloading equipment, enabling them to discharge dry bulk cargo without shore-side assistance.
Portfolio Management consisted primarily of its ownership in a group of joint ventures with Rolls-Royce plc that leased aircraft spare engines, as well as five liquefied gas carrying vessels and assorted other marine assets, as of December 31, 2016. Portfolio Management's owned portfolio consists of marine assets operating in pooling arrangements, assets subject to operating and finance leases, and secured loans. Portfolio Management also manages portfolios of assets for third parties, which generate fee and residual sharing income through portfolio administration and the remarketing of these assets.
The Company competes with VTG Aktiengesellschaft, the Ermewa Group, Wascosa AG, On Rail, Wells Fargo Rail, CIT Group Inc., Progress Rail Services Corporation, Union Tank Car Company, Trinity Industries Leasing Company, SMBC Rail Services, LLC, Interlake Steamship Company, Great Lakes Fleet, Inc., Grand River Navigation, Central Marine Logistics, and VanEnkevort Tug and Barge.
222 W Adams St
CHICAGO IL 60606-5312