GATX SUBSIDIARY COMPLETES PURCHASE OF CGTX
D. Ward Fuller, president and chief executive officer of General American Transportation Corporation, stated, "The completion of this purchase achieves one of General American's primary goals: providing seamless railcar service throughout North America. In addition, we believe that this purchase will allow CGTX to realize significant opportunities for growth by providing increased value-enhancing services to Canadian shippers and railroads. We are looking forward to participating in Canada's expanding marketplace."
General American Transportation Corporation provides its customers with the largest fleet of railroad tank cars in North America, as well as other specialized freight cars that transport chemicals, food, petroleum and minerals for major industries and users of bulk commodities. General American Corporation also operates railcar service centers and provides fleet management services.
GATX Corporation provides more than $5 billion of service-enhanced assets primarily used to help its customers transport, store or distribute their products. GATX's assets include railcars and locomotives, bulk liquid terminals and pipelines, ships, warehouses, commercial aircraft, technology equipment and other capital assets and related services worldwide. GATX also offers a variety of financial services focusing on owning or managing transportation and distribution assets.
/NOTE TO EDITOR: Investor, corporate information and press releases may be found at http://www.gatx.com. A variety of current financial information, historical financial information, press releases and photographs are available at this site./
/CONTACT: George S. Lowman of GATX Corporation, 847-256-5969 on July 5, or 312-621-6599/
/GATX press releases may be obtained by automated PR News Company News On-Call's automated fax service at 800-758-5804. The company identification number for GATX is 105121/
CO: General American Transportation Corporation; GATX Corporation;
CGTX Inc. ST: Illinois IN: TRN SU: TNM
SR -- NYF027 -- 5868 07/05/96 16:31 EDT
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|Date:||Jul 5, 1996|
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