GATX Corp. has acquired 156 locomotives from Progress Rail, bringing its North American fleet to more than 650 units of various types. Financial details were not disclosed; GATX said the acquired mix is consistent with the company’s locomotive fleet strategy.
“The portfolio consists entirely of existing (non-new) EMD locomotives that previously constituted Progress Rail’s lease fleet,” GATX Senior Director Investor Relations, ESG and External Communications Shari Hellerman told Railway Age. “The majority of the acquired locomotives were purchased subject to existing leases, which will continue in place. The acquired locomotives not currently on lease will be remarketed by GATX either for lease or for sale. The acquired fleet is predominantly 4-axle 1,500- and 2,000-hp locomotives such as GP38-2s and MP15s, which are core to GATX’s operating lease business. A limited number of high-horsepower 6-axle locomotives, including 9 SD70ACe units, were also included.”
As of June 30, 2024, GATX Rail North America’s wholly owned fleet was composed of approximately 111,100 railcars, including 8,990 boxcars, and approximately 500 locomotives.
“This acquisition supports GATX’s commercial strategy of offering locomotives for lease as a complementary product valued by our railcar leasing customers,” said Paul F. Titterton, Executive Vice President and President, GATX Rail North America. “As the premier rail rolling stock lessor in North America, we are excited to grow our ability to provide high quality locomotives to the market. We look forward to continuing to serve existing GATX locomotive customers and to working with new customers that this transaction brings.”
