Sumitomo Mitsui Banking Corp (SMBC) announced that its railcar operating lessor and fleet management business, SMBC Rail Services (SMBC Rail), completed the acquisition of American Railcar Leasing.
The transaction, which will produce a premier full service lessor of long-lived rolling stock, offering comprehensive rail leasing solutions in North America, with a combined fleet of approximately 50,000 railcars that are positioned to carry a wide variety of commodities and serve a broad range of industries, including energy, steel, agriculture, petrochemical and consumer goods.
“The highly experienced work force and the combined railcar fleets will allow SMBC Rail to better serve our overall customer base” Gene Henneberry, CEO of SMBC Rail said.
American Railcar Leasing is one of the largest wagon leasing company in the United States with a fleet of 34,300.
SMBC Rail Services has a fleet of 20,500 wagons.
SMBC is headquartered in Tokyo, Japan, and is listed on the Tokyo, Nagoya and New York stock exchanges. Sumitomo Mitsui Financial Group has a market capitalization of approximately USD 48 billion.
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