USA: The Trinity Railcar Repair subsidiary of Trinity Industries announced its acquisition of Seaboard Railcar Repair on November 4. Seaboard provides maintenance, specialised cleaning, lining, painting, inspection and testing services for tank cars and other wagons. The acquisition includes two maintenance facilities in Oklahoma and North Carolina.
Trinity's wagon leasing subsidiary had been a customer of Seaboard, providing a large portion of its business. The associated revenue and profit for Seaboard will be eliminated in consolidation, and the acquisition will not have a material impact on Trinity's consolidated results.
'As a long-standing, key customer of Seaboard Railcar Repair, we have a deep respect for the quality of services and maintenance capabilities provided by this company,' said Trinity Industries Senior Vice-President D Stephen Menzies. 'This transaction supports the growth of our lease fleet and the associated maintenance and regulatory compliance required as the fleet ages.'
