GATX Corporationis a railcar lessor that owns fleets in North America, Europe, and Asia. In addition, jointly withRolls-Royce Limited,it owns one of the largest aircraft spare engine lease portfolios. It is headquartered inChicago, Illinois.As of December 31, 2020, the company owned 148,939 rail cars, including 83,959tank cars,64,980freight cars,and 645locomotives.Other major car types owned includecovered hoppers,open-tophopper cars,andgondolas.It primarily serves thepetroleum industry(29% of 2020 revenues),chemical industry(22% of 2020 revenues),food industry(11% of 2020 revenues),mining industry(10% of 2020 revenues), andtransportation industry(20% of 2020 revenues).[1]
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 A GATXEMD GP38-2locomotive | |
| Company type | Public company |
|---|---|
| NYSE:GATX S&P 400component | |
| Industry | Railcar leasing |
| Founded | 1898 |
| Founder | Max Epstein |
| Headquarters | Chicago,Illinois |
Key people | Robert C. Lyons,CEO |
| Revenue |  $1.209 billion (2020) |
 $151 million (2020) | |
| Total assets | $8.937 billion (2020) |
| Total equity | $1.957 billion (2020) |
Number of employees | 1,904 (2020) |
| Website | www |
| Footnotes / references [1] | |
History
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The company was founded as Atlantic Seaboard Dispatch inChicago,Illinois,in 1898 byMax Epsteinto ship beer in refrigerated railcars forDuquesne Brewing Company.[1][2]
In 1902, the company was renamed German-American Car Co. In 1916, it changed its name to General American Tank Car Corp. and became apublic companyvia aninitial public offering,and in 1933, it was renamed General American Transportation Corp.[2]
In 1949, the company worked with designerRussel Wrightto develop "Meladur", amelaminedinnerware.[3]
Effective January 1, 2000, General American Transportation Corporation was renamed GATX Rail Corporation, a unit of GATX Corporation.[4]
In 2004, the company sold its technology-leasing unit toCIT Groupfor about $200 million in cash.[5]
In September 2013, the company sold its 37.5% interest in AAE Ahaus Alstätter Eisenbahn Cargo AG to its partner, AAE Ahaus Alstätter Eisenbahn, for €84.5 million.[6]
In March 2014, the company acquired the North American per diem boxcar fleet ofGE Capital Rail Services,consisting of more than 18,500 boxcars.[7]
In November 2018, the company announced an agreement to acquire up to 3,100 railcars fromECN Capitalfor up to $229 million.[8]
In May 2020, the company soldAmerican Steamship Company,its dry bulk vessel business, to Rand Logistics for $260 million.[9]
In December 2020, the company acquired Trifleet Leasing Holding B.V., the fourth largest globaltank containerlessor.[10]
Reporting marks
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GATX's primary freight carreporting marksare:
- GATX (for tank cars)
- GACX (for general-service freight cars)
- GGPX (for coal cars)
- GIMX (for intermodal cars)
- GPLX (for plastic pellet cars)
- GMTX and LLPX (for locomotives)
- GPFX (for pressure-differential cars)
GATX also owns other marks including CGTX, GABX, GAEX, GCCX, GFSX, GOHX, GSCX, IPSX, and TRIX including forGeneral American Marks Companyand GATX Rail. Many GATX cars carry a large "GATX" logo in the upper corner of the cars regardless of the reporting mark they carry; this logo is applied for marketing reasons and does not have any operational significance.[11]
References
edit- ^abc"GATX Corporation 2020 Form 10-K Annual Report".U.S. Securities and Exchange Commission.
- ^ab"General American Transportation Corp".Encyclopedia of Chicago.
- ^"NATIONAL HISTORIC LANDMARK NOMINATION: MANITOGA".National Park Service.February 17, 2006.
- ^"GATX Corporation 1999 Annual Report"(PDF).
- ^"Company News: CIT TO BUY LEASING UNIT FROM GATX FOR ABOUT $200 MILLION".The New York Times.Bloomberg News.April 16, 2004.
- ^"GATX Corporation Announces the Sale of Its Interest in AAE Cargo"(Press release).Business Wire.September 26, 2013.
- ^"GATX Corporation Announces Acquisition of More Than 18,500 Railcars from GE Capital Rail Services"(Press release).GlobeNewswire.March 24, 2014.
- ^"GATX Corporation Announces Acquisition of Up to 3,100 Railcars"(Press release). GlobeNewswire. November 12, 2018.
- ^"GATX Corporation Completes Sale of American Steamship Company Business Segment"(Press release). GlobeNewswire. May 14, 2020.
- ^"GATX Corporation Acquires Tank Container Lessor Trifleet Leasing"(Press release). GlobeNewswire. December 30, 2020.
- ^"Interchange: General American Transportation Corp".pennsyrr.RetrievedFebruary 5,2022.
External links
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