Mar. 30. 2009
Marubeni Corporation (“Marubeni”) has acquired 49% share of CFCLA Rail JV Pty Ltd. (the “Rail JV”), an operating lease company of diesel electric locomotives and freight wagons in Australia. 51% share of the Rail JV is owned by CFCL Australia Pty Limited (“CFCLA”), wholly owned by Chicago Freight Car Leasing Co.( “CFCL”), a railway wagon operating leasing company in the USA.
The Rail JV was established in 2004 and currently owns 37 diesel electric locomotives and 805 grain and container wagons.
Freight task by rail in Australia is expected to steadily grow against the backdrop of the government’s policy for standardization of rail infrastructure and dominant advantage over freight traffic by road in terms of impact on environment and fuel efficiency. The Rail JV assets are all standard gauge, and are increasingly sought after amidst the background of growing demand of freight traffic on the rail network in Australia such as Sydney- Perth route and Adelaide-Darwin route.
In November, 2006, Marubeni acquired 100% share of Midwest Railcar Corporation (“MRC”), a US-based railcar leasing company. Since then Marubeni has built up its know-how in rail freight leasing business through operation of MRC and been expanding its fleet. The selection of Marubeni as the Rail JV’s long term partner by CFCLA is in recognition of Marubeni’s past track record in the rail industry. Marubeni is the first Japanese company to enter the locomotive and wagon lease business in Australia.
Marubeni is determined to expand the fleet of high quality rolling stock assets by winning Rail JV customers’ confidence through the provision of maintenance and administrative services beyond their expectation.
In addition to consolidating its solid business base in the USA and Australia, Marubeni intends to diversify and expand its rail transport business including operating lease in Europe and other markets.
CFCLA Rail JV Pty Ltd Company Profile
Name : CFCLA Rail JV Pty Limited
Headquarters : Sydney, New South Wales, Australia
Founded : 2004
Business Outline : Operating leasing Business of the rolling stock
Assets : Locomotives 37 Wagons 805
Main Lessee :Queensland Rail,Pacific National Group(Pacific National,Pacific Portlink) etc…