UK based locomotive leasing company Beacon Rail Leasing (‘Beacon’) and locomotive leasing and servicing company Mitsui Rail Capital Europe (‘MRCE’), recently concluded the sales and purchase agreement for 27 diesel locomotives. The locomotives are between 8 and 12 years old and were sold with lease contracts to various rail cargo operators in place. The first 10 locomotives have already been handed over at various locations in Germany. The remainder is scheduled to be handed over in the coming months.
The fleet includes 17 EMD Class 66 locomotives and 10 Siemens ER20 locomotives and they are operated throughout continental Europe. The deal includes all rights and obligations under the existing active lease contracts and strengthens the strategic position of both companies.
“Acquiring this portfolio of diesel locomotives is in line with our strategy, growth ambitions, and our commitment to being the leader in this segment of the market“, said Ted Gaffney, CEO of Beacon Rail Leasing. “It adds to our existing fleet of heavy diesel locomotives. Our current fleet includes a significant number of Class 66 locomotives, so this acquisition allows us to continue to leverage our existing skills, expertise and experience to better serve the needs of our customers and the market. The acquisition of the ER20 locomotives expands our reach deeper into western and central Europe, so we are very pleased with this transaction.”
“For more than 10 years we have had a strong position in the European railway market.” stated Masayoshi Hosoya, CEO of MRCE. “This strong position comes from differentiated technical expertise and strong relationships with our clients. Those strengths have been helping us to build a portfolio which is prepared for the future. MRCE is constantly working on improving its services and locomotive fleet and for this reason we decided to sell these locomotives and to invest in core assets. With this transaction we believe we are creating a win-win situation for both companies involved. It allows MRCE to focus more on enhancing our core competencies of technical services and capturing the fast-growing demand of the locomotive lease market.”
Beacon is a rolling stock leasing company serving the Pan European and North American rail marketplaces with offices in Boston, London and Rotterdam.
MRCE has a fleet of around 300 locomotives in Europe and provides full-service leasing of locomotives. MRCE is a subsidiary of Mitsui & Co., Ltd. of Japan, and is located in Amsterdam and Munich.
Mitsui Rail Capital Europe B.V.
Barbara Strozzilaan 366, 5th floor, NL-1083 HN Amsterdam
Phone: +31 (0)20 708 5910, Fax: +31 (0)20 708 5950
Statutory Seat: Amsterdam, CoC no.: 34214164, VAT no.: NL8135.72.678.B.01