The Greenbrier Companies and Tokyo-based Mitsubishi UFJ Lease & Finance Company Limited (MUL) completed agreements to expand their existing commercial relationship in North America.
The announcement follows their Memorandum of Understanding announced in April, with MUL planning to grow its portfolio from 5,000 railcars to a total of 25,000 railcars over the next four years. As part of these growth plans, MUL has entered a multi-year purchase commitment for 6,000 new railcars from Greenbrier, with deliveries commencing during the fourth calendar quarter of 2017 and continuing through 2020. MUL will obtain all its newly-manufactured railcars exclusively from Greenbrier through 2023.
“Greenbrier is pleased to extend its business relationship with MUL with these recently signed agreements and the formation of MUL Greenbrier Management Services. This expanded relationship with MUL demonstrates our earned reputation of providing tailored solutions to our customers. We take pride in the series of transactions we have completed with our friends at MUL and look forward to our continuing work together,” said William A. Furman, Greenbrier Chairman and Chief Executive.
“MUL has set an ambitious target to increase MUL’s market share to a level that places it among North America’s top eight leading operating lessors of railcars,” said MUL President and Chief Executive Tadashi Shiraishi. “We value Greenbrier’s ability to build high-quality freight railcars and assist MUL with high-value railcar management services to support MUL’s rapidly expanding fleet.”
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