- Trinity Industries ( NYSE: TRN ) notifies on Monday that its subsidiary, Trinity Rail Group, LLC, has entered into a new long-term railcar supply pact with GATX Corporation ( NYSE: GATX ) to deliver a mix of 15,000 newly built tank and freight railcars over a six-year period.
- GATX has the option to order an additional 500 railcars in each order year.
- Per the terms, Trinity will deliver 6,000 tank cars at a rate of 1,200 cars each year from 2024 through 2028.
- The remaining 9,000 cars, which can be a mix of freight and tank cars, will be ordered at a rate of 1,500 cars per order year from 2023 to 2028 and delivered under a schedule to be determined.
For further details see:
Trinity Industries announces $1.8B multi-Year railcar order