GATX CORPORATION TO CHANGE WAREHOUSING AND DISTRIBUTION SUBSIDIARY NAME TO GATX LOGISTICS, INC.
CHICAGO, April 1 /PRNewswire/ -- GATX Corporation will change the name of its logistics and warehousing subsidiary, The Unit Companies, to GATX Logistics, Inc., stated James. J. Glasser, chairman, president and chief executive officer, GATX Corporation. "When we acquired UNIT in 1989, GATX recognized the value of the long-term opportunities among UNIT's operations and the existing four operating subsidiaries of GATX. "The new name will reflect GATX Logistics' expanding capabilities in offering integrated logistics services including inventory and return goods management, warehousing, just-in-time delivery, contract packaging, subassembly, computer applications, and warehouse real estate services." GATX Logistics is one of the nation's largest providers of third-party logistics services. "Our new name will more accurately define our relationship with our parent company, GATX, and its subsidiaries, and better reflect our expanding integrated distribution logistics capabilities," said William S. Elston, president, chief executive officer, GATX Logistics, Inc. "Each of our operations will continue to share the commitment to provide its customers with the same quality logistics solutions they have come to expect from the industry leader." GATX Logistics' operating subsidiaries, including Dallas Warehouse Company, James M. Hogan Company, Lentz Warehousing and Distribution Company, Paul Jeffrey, Southeastern Bonded Warehouses, and Unit Properties, will also share the new name. GATX Logistics, Inc., based in Jacksonville, Fla., is a subsidiary of GATX Corporation (NYSE: GMT), Chicago. GATX Logistics has more than 21 million square feet in 125 facilities in North America to help its broad customer base effectively store, process and deliver their products through a wide range of third-party services. GATX Corporation is a $3.4 billion service-based asset company which provides capital equipment and related services for use in various domestic and international markets for rail, aircraft, bulk liquid storage terminals and pipelines, logistics support, and Great Lakes shipping. -0- 04/01/93 /CONTACT: Holly Rea of GATX, 312-621-6493/ (GMT)
CO: GATX Corporation; Unit Companies ST: Florida IN: TRN SU:
AH -- NY050 -- 1994 04/01/93 11:35 EST
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|Date:||Apr 1, 1993|
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