SUMITOMO subsidiary SC Rail Leasing America acquired leasing firm Southern Illinois Railcar Co and its affiliate Ohio Ag Terminals during September.
Established in 1990 with the acquisition of 10 grain wagons from Soo Line, SIRC has grown to manage more than 2 500 wagons, mainly covered hoppers, and also provides brokering and fleet management services. Ohio Ag operates freight terminals and undertakes repair work on all kinds of wagon except tank cars.
Announcing the deal, SC Rail Leasing America said it plans to expand its fleet to more than 8 000 cars within five years, putting it 'in the top 10' wagon leasing companies in the USA.
