Wells Fargo Rail
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Rail transportation |
| Predecessor | First Union Rail GE Capital Rail Services |
| Founded | January 1, 2016 |
| Headquarters | , U.S. |
| Parent | Wells Fargo |
| Website | firstunionrail |
Wells Fargo Rail (reporting marks WFRX[2], FURX[a], FBRX[b], SPTX[c]) 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.[4] 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.[5]
Equipment
[edit | edit source]Railcars
[edit | edit source]- 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
[edit | edit source]Services
[edit | edit source]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.
Notes
[edit | edit source]- ^ Formerly used by First Union Rail, now inherited by Wells Fargo Rail[1]
- ^ Formerly used by the Fiske Brothers Refinery Company, later acquired by First Union Rail[1]
- ^ Formerly used by Sugar Products Company, later acquired by Trinity Rail Management, then First Union Rail, then Wells Fargo Rail[3]
References
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