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The Watco Cos. Inc. recently contracted Greenbrier Management Services L.L.C. (GMS) to process car hire payables and receivables.

A rail-car management services provider and Greenbrier Cos. subsidiary, GMS will use its Web-enabled system to process car hire payables on all freight cars, trailers and containers interchanged onto Watco’s 17 short lines (which operate in 15 states). The payables system provides daily car hire liability updates and automates various processes, including special reclaims.

GMS — which began processing Florida East Coast Railway’s car hire payables in October — also will process car hire receivables generated by Watco’s freight-car fleet.

“Through extensive testing, GMS has demonstrated that their system processes accurately [and] our people really like the Web-accessible user interfaces,” said Rick Baden, Watco’s executive vice president and chief financial officer, in a prepared statement.