American Industrial Transport, Inc., an ITE Management company, Acquires the Rail Leasing Business of The Andersons, Inc.
ST. CHARLES, Mo., Aug. 16, 2021 /PRNewswire/ -- American Industrial Transport, Inc. (AITX) announced today that it has acquired the railcar leasing business from The Andersons, Inc. (NASDAQ:ANDE) for approximately $550 million in cash. AITX and its affiliates now can offer customers a leasing fleet of approximately 60,000 railcars across a diverse offering of car-types, equipment life-cycles, commodities, and industries-serviced.
AITX provides solutions to freight shipping customers across railcar leasing, repair, and data. The company is an affiliate of ITE Management L.P., an asset manager targeting transportation and industrial assets and companies, and related industries and services.
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