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2019-05-21 Economy
Trinity Industries to build railcar maintenance facility in Iowa
[Freight Waves] A Trinity Industries (NYSE: TRN) subsidiary has bought 230 acres in Iowa to construct a multi-million-dollar railcar maintenance facility.

TrinityRail Maintenance Services will build the facility in Shell Rock, Iowa, with operations expected to start by the end of 2020. Services at the facility will range from repairs and maintenance, to coatings, cleaning, inspections and testing. The facility will be near the Iowa Northern shortline railroad, which provides transloading services and supports the local grain and renewable energy industries.

The facility’s location in Butler County will give Trinity access to the Class I railroad network and the upper Midwest, Trinity said.

"This full-service facility will expand our internal network and operational flexibility in a key geographic location," said Eric Marchetto, senior vice president and group president of TrinityRail, a railcar lessor.

The facility will enable Trinity to internally service and maintain approximately half of its 123,000 owned and managed railcars, Marchetto said. Trinity has reserved $60 million in capital funds to build the facility, with $30 million expected to be spent in 2019. Financing for the project wasn’t included in Trinity’s guidance for its capital expenditures in 2019.

Trinity said in April that it expects to spend between $90 million and $110 million in 2019 on manufacturing and corporate capital expenditures and between $1.2 billion and $1.4 billion on building its leased fleet.
Posted by Besoeker 2019-05-21 00:00|| || Front Page|| [11130 views ]  Top

#1 Great news! Railcars will no longer have to go to China for maintenance. Another win for Trump ;-)
Posted by Creling Pelosi3622 2019-05-21 09:53||   2019-05-21 09:53|| Front Page Top

#2 "Oh, No! More mouth breathing, drooling deplorables will have jobs in the fly over area" thought each lib that happened to read the article!
Posted by AlmostAnonymous5839 2019-05-21 10:23||   2019-05-21 10:23|| Front Page Top

#3 Be interesting to know the eventual mix of car types being serviced. We know Warren Boo-fay bet big on oil tank car trains some time back. Unless Trump gets a second term, I'm not optimistic about the chances of pipeline capacity every catching up with demand.
Posted by M. Murcek 2019-05-21 10:57||   2019-05-21 10:57|| Front Page Top

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