HAMILTON, Bermuda, Oct 19, 2009 (BUSINESS WIRE) -- Textainer Group Holdings Limited (NYSE:TGH) (“Textainer”), the world’s largest lessor of intermodal containers based on fleet size, today announced that the Company has purchased 31,000 containers (53,000 TEU) it has been managing for Amphibious Container Leasing Limited (“Amficon”). Approximately thirty-six percent of these containers are specialty containers, such as flatracks and open tops, with the balance consisting of dry freight containers. The effective date of this transaction is October 1, 2009.
“We are pleased to once again take advantage of current industry fundamentals and enter into another accretive transaction for shareholders,” stated John A. Maccarone, President and CEO of Textainer. “With the purchase of the 31,000 containers, we have increased the ownership portion of our fleet, positioning Textainer to further increase its profitability. While managing containers provides distinct benefits, we will continue to seek to utilize our strong financial flexibility to capitalize on similar opportunities aimed at continuing to grow our net income,” commented Mr. Maccarone.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world’s largest lessor of intermodal containers based on fleet size. We have a total of more than 1.5 million containers, representing over 2.3 million TEU, in our owned and managed fleet. We lease containers to more than 400 shipping lines and other lessees. We principally lease dry freight containers, which are by far the most common of the three principal types of intermodal containers, although we also lease specialized and refrigerated containers. We have also been one of the largest purchasers of new containers among container lessors over the last 10 years. We believe we are also one of the largest sellers of used containers, having sold more than 170,000 containers during the last two years to more than 1,000 customers. We provide our services worldwide via a network of offices and independent depots.
SOURCE: Textainer Group Holdings Limited
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com
Copyright Business Wire 2009