MUL Railcars, Inc. Is Now PNW Railcars

PORTLAND, Ore., Dec. 1, 2021 /PRNewswire/ -- MUL Railcars, Inc., hereby announces its decision to change trade name.

Mitsubishi HC Capital Inc. implemented the Business Integration through an absorption-type merger ("the Merger") on April 1, 2021, in which Mitsubishi UFJ Lease & Finance Company Limited was the surviving company and Hitachi Capital Corporation was the merged company. Together with the Merger, MUL Railcars, Inc. decided to change its trade name as noted below.

MUL Railcars, Inc., a leading full-service railcar leasing, maintenance and management company, has changed its name to PNW Railcars, Inc. PNW Railcars will continue to offer customers the same best-in-class railcar asset availability and fleet management, supported by a uniquely talented team that offers decades of combined experience with railcar leasing, management and regulatory assistance, and specialized services.

PNW Railcars CEO, Andy Vestergaard, commented that "we are committed to serving our customers today and well into the future. Over the past four years, as MUL Railcars, we more than doubled the size of our fleet to over 20,000 railcars, while continuing to provide ongoing support to our expanding customer base. Now, as PNW Railcars we will continue that legacy of delivering solid value through comprehensive leasing and service solutions in keeping with PNW Railcars' high standards for integrity and customer focus. This is possible thanks to our dedicated team, world-class financial backing and global connections of Mitsubishi HC Capital, and partnerships."

With one of the youngest and most comprehensive fleets in the rail leasing industry, PNW Railcars serves customers in the agriculture, automotive, aggregates, chemicals, energy, forest products, plastics and steel industries.

About Mitsubishi HC Capital Inc

Mitsubishi HC Capital is a prominent global leasing company headquartered in Tokyo, Japan. Mitsubishi HC Capital, incorporated in April 1971, focuses on leasing, installment sales, various types of financing, and international business. Mitsubishi HC Capital's principal shareholders are Mitsubishi Corporation, Mitsubishi UFJ Financial Group, Inc., and Hitachi, Ltd. Mitsubishi HC Capital is listed on the Tokyo Stock Exchange and the Nagoya Stock Exchange.

Mitsubishi HC Capital is one of the largest leasing companies by assets in Japan. The Mitsubishi HC Capital Group has a diverse business portfolio, offering leases and financial products in auto, real estate, railcar, vessels, aircraft engines, aircraft, and other capital equipment. For more information about Mitsubishi HC Capital, visit Mitsubishi HC Capital Inc.

About PNW Railcars

PNW Railcars is based in Portland, OR and is a significant player 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.  PNW Railcars (www.pnwrailcars.com) offers a complete railcar leasing solution set with railcar asset management, regulatory support, specialized services and leasing products that provide customers the options they need.   

Contact:
Sidney Stewart
[email protected]

SOURCE MUL Railcars, Inc.