ACF Industries Enters Into Railcar Lease With GE Capital Railcar
NEW YORK, March 10 /PRNewswire/ -- ACF (Advanced Communications Function) An earlier official product line name for IBM SNA programs, such as VTAM (ACF/VTAM) and NCP (ACF/NCP).
ACF - Advanced Communications Function Industries, Incorporated, through a newly formed (98.737%-owned by ACF) limited liability company, has entered into 16-year leases of nearly 35,500 railcars to a subsidiary of GE Capital. ACF will continue to lease its remaining fleet on its traditional basis in accordance with the high level of service it has maintained throughout its 98-year history. ACF will also continue to operate its 3 railcar manufacturing and 8 railcar repair facilities. ACF Industries received the proceeds of an approximately $1.25 billion private debt offering secured by the railcars leased to GE and the associated GE lease rentals.
ACF is a major independent manufacturer of specialized railcars and related products and is a significant lessor of railcars in North America. Carl C. Icahn, owner of ACF Industries, stated that "This arrangement with GE Capital gives ACF the wherewithal to remain a large and dominant factor in the railcar business while obtaining the benefits of using a large pool of capital without concern over potential short-term economic influences."
Mr. Icahn noted that GE Capital has contractually agreed to continue to use ACF's repair facilities for at least five years and has entered into a non-exclusive five-year contract to purchase ACF-manufactured railcars.
SOURCE ACF Industries, Incorporated
/CONTACT: Silvia Herrschaft of ACF, 212-702-4309/
CO: ACF Industries, Incorporated; GE Capital ST: New York IN: TRN (Threaded ReadNews) A popular newsreader for Usenet newsgroups. It is an enhanced version of rn (ReadNews) that includes threads. See Usenet. SU:
RC-MP -- NYM Nym
humorous thief and rogue. [Br. Lit.: Merry Wives of Windsor; Henry V]
See : Thievery
1. (tool, networking) nym - /nim/ (From the third syllable of "anonymous"; or "nym server") A server that functions as an anonymous remailer.
2. 089 -- 3106 03/10/97 10:40 EST EST electroshock therapy.
electroshock therapy http://www.prnewswire.com