Sector: Diversified Services
Latest Quote @ Sat May 5 03:14:19 (15 min delayed)
Last Day's Data
GATX Corporation, a finance and leasing company, provides business solutions to customers and partners worldwide. It operates in three segments: GATX Rail (Rail), GATX Air (Air), and GATX Specialty Finance (Specialty). Rail segment engages in leasing rail equipment, including tank cars, freight cars, and locomotives to railroads, chemical, petroleum, agricultural, and food processing companies. This segment also provides full-service leases, including maintenance of the railcars and payment of ad valorem taxes. As of December 31, 2004, it owned approximately 128,500 railcars, as well as had an ownership interest in approximately 26,700 railcars. In addition, it owned 531 locomotives, as well as managed approximately 12,700 railcars for third party owners, as of the above date. Air segment engages in leasing narrowbody aircraft that are used by commercial airlines. This segment also offers aircraft management services to third-party owners. These services include marketing the aircraft, and monitoring aircraft maintenance and condition, as well as administering the portfolio, including billing and collecting rents, accounting and tax compliance, reporting and regulatory filings, purchasing insurance, and lessee credit evaluation. It owned 163 aircraft and managed 66 aircraft for third parties, as of above date. Specialty segment engages in asset-based financial operations, including asset/portfolio acquisitions, management, and remarketing. This segment also provides asset management services for third-party owners. It pursues investments in marine assets and select industrial equipment assets. GATX Corporation was founded in 1898 and is headquartered in Chicago, Illinois.