Railcar leasing and financial services provider VTG Rail Inc. has agreed to purchase a fleet of 1,135 rail cars from Redwood Rail, expanding its overall fleet to around 5,200 rail cars.
VTG Rail Inc., the U.S. subsidiary of VTG AG, has acquired a fleet of 1,135 rail cars from Redwood Rail, an American rail car leasing company, expanding its fleet to around 5,200 rail cars, the company said.
VTG Rail has also assumed the associated leases and Redwood Rail’s existing customer relationships, which includes two Class I railroads and a global commodities company.
Financial terms of the deal were not disclosed.
VTG Rail noted the rail cars it inherited from Redwood Rail further diversified the buyer’s portfolio, with freight cars for the transportation of grain, cement, sand, plastics products and logs having been transferred to VTG.
VTG Rail acquires over 1,000 rail cars
