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The Chicago Freight Car Leasing Company provides railcar leasing and management to companies throughout North America for a variety of commodities, including agricultural & food products; chemical & processed mineral products; metals, ores, aggregates, mineral rock/stone, and petroleum products.
GATX freight car in New York City. The company was founded as Atlantic Seaboard Dispatch in Chicago, Illinois, in 1898 by Max Epstein to ship beer in refrigerated railcars for Duquesne Brewing Company. [1] [2] In 1902, the company was renamed German-American Car Co.
In 1997, the company became a public company via an initial public offering that raised $850 million. [2] [5] On November 15, 1999, CIT acquired Toronto-based Newcourt Credit Group in a $4.2 billion transaction, which created one of the largest publicly owned leasing companies. [6] [7]
Rail First Asset Management (RailFirst), formerly known as CFCL Australia (CFCLA, Chicago Freight Car Leasing), is an Australian rolling stock leasing company operating in the rail freight market. It leases assets to a number of private rail operators, predominantly on the defined interstate rail network.
Union Tank changed its name to "Union Tank Car Company" in 1919. [2] During the Great Depression, the company acquired thousand of tank cars and began leasing them back to shippers, an activity that has continued to date. [9] During the 1920s, the company had a fleet of about 30,000 cars, and moved its operations to Chicago. [1]
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