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Yesterday, CIT Rail Resources announced it obtained an operating lease from Ferrocarril Mexicano S.A. de C.V. for 300 new covered hoppers. The model 5200 hoppers will be built by American Railcar Industries.

CIT plans to begin delivering the cars in August. Ferromex will use the covered hoppers to move feed and grain in and out of Mexico.

“CIT is dedicated to the Mexican rail market as we look to continue serving our customers with state-of-the-art equipment and develop long-term relationships,” said Joseph Mankowski, CIT senior vice president of rail-car leasing, in a prepared statement.

CIT Rail Resources provides equipment leasing and financial services to the rail industry, and owns and manages a fleet of 54,000 rail cars and 550 locomotives.