Printer Friendly
The Free Library
22,728,043 articles and books

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
    -0-                             03/10/97


/CONTACT: Silvia Herrschaft of ACF, 212-702-4309/

(GE)

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.

EST
abbr.
electroshock therapy
 http://www.prnewswire.com
COPYRIGHT 1997 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 10, 1997
Words:247
Previous Article:Fleet Bank Provides Funds to Quincy's Fore River Shipyard
Next Article:Alliance on Verge of $1 Billion Airfare Savings for Business Travelers; First of Historic Summits Planned to Address Systemic Competitive Problems
Topics:

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters