GATX Corp. has acquired Dyrekcja Eksploatacji Cystern (DEC), Poland’s national tank car fleet and fuel distributor, by purchasing all of DEC’s shares for $84 million. Additional terms weren’t disclosed.
GATX plans to optimize DEC’s 11,500 tank cars and maintenance network in Poland, introduce new products and services designed for DEC’s customers, and cooperate with PKP — one of Europe’s largest railroads — to help facilitate and support the growth of Polish rail transportation.
"Poland is a pivotal gateway between eastern and western Europe and, as such, provides a unique platform for growth," said Ward Fuller, GATX president and chief executive officer, in a prepared statement, adding that his company anticipates opportunities in the petroleum, chemical and food sectors. "We hope we can all work together to make this particular privatization an exemplar of a successful privatization for all constituents."
Source: Progressive Railroading Daily News
