Trinity Rail, GATX agree to $1.8B rail-car order

Trinity Industries Inc. today announced that its subsidiary Trinity Rail Group LLC has entered into a $1.8 billion agreement with GATX Corp. to deliver a mix of 15,000 new tank and freight cars over six years.

GATX has the option to order an additional 500 rail cars in each order year. Under the agreement, 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 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 later.

"This multiyear railcar order with GATX represents the extension of a strong partnership," said Trinity President and CEO Jean Savage in a press release. "We are proud of the relationship we have built with GATX and pleased that they have once again selected TrinityRail as the premier North American rail-car manufacturer."