Wells Fargo Rail Explained

Wells Fargo Rail
Type:	Subsidiary
Industry:	Rail transportation
Predecessor:	First Union Rail GE Capital Rail Services
Parent:	Wells Fargo
Location City:	Rosemont, Illinois
Location Country:	USA

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]

Equipment

Railcars

• Autoracks—for transporting vehicles, can be bi-level or tri-level
• Box cars
• Flatcars
  • Centerbeam flatcar
• Gondolas - (Rotary Dump Coal Gondola)
• Hopper cars - (Both Covered & Open Hoppers)
• Intermodals
  • Double stacked Intermodals
• Tank car

Locomotives

• EMD GP38-2
• EMD GP40-2
• EMD MP15DC/EMD MP15AC
• EMD SD40-2
• EMD SD70MAC

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.

External links

• Corporate homepage

Notes and References

1. News: Wells Fargo Agrees to Acquire GE's Railcar Leasing Business. Campbell. Dakin. Clough. Rick. 2015-09-30. Bloomberg.com. 2018-05-14. en.
2. Web site: Railcar Leasing and Financing.