Wells Fargo Rail
Wells Fargo Rail is the new name for the historic First Union Rail Corporation, along with the combined business of the former GE Capital Rail Services, which Wells Fargo purchased from GE in September 2015.[1] The new company/name took effect January 1, 2016, and is based in Rosemont, Illinois, USA. Wells Fargo Rail is the largest railcar and locomotive operating lessor in North America with more than 135,000 railcars and 850 locomotives.[2]
 | |
| Type | Subsidiary |
|---|---|
| Industry | Rail transportation |
| Predecessor | First Union Rail GE Capital Rail Services |
| Founded | January 1, 2016 |
| Headquarters | , USA |
| Parent | Wells Fargo |
| Website | firstunionrail |
Equipment
Railcars
- Autoracks—for transporting vehicles, can be bi-level or tri-level
- Box cars
- Flatcars
- Gondolas - (Rotary Dump Coal Gondola)
- Hopper cars - (Both Covered & Open Hoppers)
- Intermodals
- Tank car
Locomotives
Services
Wells Fargo Rail provides various services to its rail customers. It of course leases the railcars and locomotives, but also provides the financing for the leases (Operating Leases, Net Lease, Full Service Lease and Car Hire Arrangement), and also Sale/Leaseback (buying rail stock from company and leasing it back to them), Portfolio Acquisitions, Asset Sales and Lease/Sublease.
It also offers Management Services and various Marketing Services.
References
- Campbell, Dakin; Clough, Rick (2015-09-30). "Wells Fargo Agrees to Acquire GE's Railcar Leasing Business". Bloomberg.com. Retrieved 2018-05-14.
- "Railcar Leasing and Financing".
External links
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