VTG Rail Inc., a subsidiary of Europe’s rail car leasing and rail freight logistics company VTG AG, has announced the acquisition of Redwood Rail’s fleet of 1,135 rail cars. In addition to enlarging its current fleet to approximately 5,200 rail cars, VTG has also assumed Redwood Rail’s associated leases and existing customer relationships, which include two Class I railroads as well as a global commodities company.
"For us, acquiring the fleet is an important strategic step that will further strengthen our position in the U.S. market," remarked Chris Schmalbruch, VTG Rail president. "Having purchased the Sumitomo fleet of around 2,450 rail cars at the end of 2011, we are very pleased to have found another investment that is an excellent fit for us and complements our portfolio."
The rail cars VTG Rail acquired from Redwood Rail include freight cars for the transportation of grain, cement, sand, plastics products and logs. Redwood Rail is an American rail car leasing company.
Via Rail Inc. has its head office in Hamburg, Germany.