DALLAS--(BUSINESS WIRE)--
Trinity Industries, Inc. (NYSE:TRN)today announced that its
wholly-owned subsidiary TrinityRail Asset Management Company, LLC
(“TRAMCo”) acted as an advisor and arranger on ECN Capital Corp.’s (“ECN
Capital”) sale of a portfolio of approximately 9,950 leased railcars.
TRAMCo also acted as advisor to Napier Park Global Capital (US) LP
(“Napier Park”), the investment manager of the purchaser of
substantially all of this portfolio. TRAMCo earned fees in its capacity
as advisor and arranger.
“We were very pleased to facilitate the sale of ECN Capital’s leased
railcar portfolio,” said D. Stephen Menzies, Trinity Industries, Inc.
Senior Vice President and TrinityRail Group President. “Through
our comprehensive knowledge of this railcar portfolio and reputation as
a premier provider of railcar services to institutional investors, we
were successful in bringing two of our strategic partners together in
this transaction, ECN Capital and Napier Park.”
Mr. Menzies added, “We will continue to service the leased railcars
under the new ownership, maintaining a seamless transition for the
underlying lessees and our strategic partners. In addition, we are
pleased to become the manager on an additional portfolio of
approximately 3,600 leased railcars which were previously managed by ECN
Capital, bringing TrinityRail’s owned and managed fleet to
approximately 112,000 railcars.”
Trinity Industries, Inc., headquartered in Dallas, Texas, is a
diversified industrial company that owns complementary market-leading
businesses providing products and services to the energy, chemical,
agriculture, transportation, and construction sectors, among others.
Trinity reports its financial results in five principal business
segments: the Rail Group, the Railcar Leasing and Management Services
Group, the Inland Barge Group, the Construction Products Group, and the
Energy Equipment Group. For more information, visit: www.trin.net.
TrinityRail Asset Management Company, LLC, a wholly-owned subsidiary of
Trinity Industries, Inc., provides advisory, portfolio development, and
asset management services to investors in portfolios of leased railcars.
Some statements in this release, which are not historical facts, are
“forward-looking statements” as defined by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include
statements about Trinity's estimates, expectations, beliefs, intentions
or strategies for the future, and the assumptions underlying these
forward-looking statements. Trinity uses the words “anticipates,”
“assumes,” “believes,” “estimates,” “expects,” “intends,” “forecasts,”
“may,” “will,” “should,” “guidance,” “outlook,” and similar expressions
to identify these forward-looking statements. Forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from historical experience or our present
expectations. For a discussion of such risks and uncertainties, which
could cause actual results to differ from those contained in the
forward-looking statements, see “Risk Factors” and “Forward-Looking
Statements” in the Company's Annual Report on Form 10-K for the most
recent fiscal year.
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Trinity Industries, Inc.
Investor Contact:
Preston
Bass, 214-631-4420
Director, Investor Relations
or
Media
Contact:
Jack Todd, 214-589-8909
Vice President, Public
Affairs
Source: Trinity Industries, Inc.