MUL Railcars, Inc. Adds 10,000th Railcar To Fleet
PORTLAND, Ore., Dec. 4, 2018 /PRNewswire/ -- On November 20, MUL Railcars, Inc. (MULR), a subsidiary of Mitsubishi UFJ Lease & Finance Company Limited (MUL), reached a significant milestone in the company's growth. The global leasing company added the 10,000th railroad car to its expanding fleet of new cars for lease.
MULR CEO, J.T. Sharp, commented that, "Over the course of the last year, MULR has established core executive, administrative and growing commercial and operations teams to support the planned growth of the MULR rail leasing platform. During the same one-year period, MULR has doubled the size of its fleet to more than 10,000 cars. I could not be prouder of our people or more grateful to our customers who have made it possible for us to reach this material milestone. This is a meaningful first step, and I am really pleased that we have done so ahead of schedule. With our talented team, global business relationships and strong financial backing, we are in position to become one of the top 10 U.S. railcar operating lessors in the coming years. We're committed to be the most responsive, reliable and competitive rail lessor in North America. Scale is important, but it is not a substitute for quality, and that is our number one priority."
MULR will continue to grow a diverse portfolio through primary and secondary acquisition channels and continues to build a professional leasing organization that delivers solid value through comprehensive leasing and service solutions in keeping with MUL's high standards for integrity and customer focus. By 2020, MULR plans to expand its portfolio to 25,000 railroad cars.
About MUL
Mitsubishi UFJ Lease & Finance Company Limited (MUL) is a prominent global leasing company headquartered in Tokyo, Japan. MUL, incorporated in April 1971, focuses on leasing, installment sales, various types of financing and international business. MUL's principal shareholders are Mitsubishi Corporation and Mitsubishi UFJ Financial Group, Inc. MUL is publicly listed on the Tokyo Stock Exchange (TSE:8593) and the Nagoya Stock Exchange (NSE:8593).
As one of the industry's leading companies, MUL's business extends beyond conventional leasing and finance, with the company offering a wide variety of services including environment and energy, real estate, healthcare, infrastructure, overseas market-entry support, used equipment trading business and global asset business.
About MULR
MUL Railcars, Inc. (MULR) is based in Portland, Oregon, and is an emergent power in the North American railcar leasing and management business, offering best-in-class asset management capabilities combined with a uniquely experienced and talented team dedicated to customer solutions. MULR (www.mul-railcars.com) offers a complete railcar leasing solution set with railcar asset management, regulatory support, specialized services and leasing products that provide customers with the options they need.
SOURCE MUL Railcars, Inc.
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