The industry leader in intermodal dry container leasing partners with
tank container leasing expert to invest in intermodal tank containers
HAMILTON, Bermuda & DORDRECHT, Netherlands--(BUSINESS WIRE)--Jun. 5, 2013--
Textainer Group Holdings Limited (NYSE: TGH) and Trifleet
Leasing (The Netherlands) B.V. signed an agreement under which
Textainer will invest in new intermodal tank containers to be managed by
Trifleet, marking Textainer’s entry into the tank container market.
Trifleet will acquire and lease the containers on behalf of Textainer,
serving as its exclusive manager in the intermodal tank container
market. The collaboration builds on the strength of the two companies:
Trifleet’s expertise and reputation as a premier tank container lessor;
and, Textainer’s industry leading size, purchasing power and access to
competitive cost of funds. Both companies will continue to operate
independently and to focus on remaining the most reliable supplier of
containers in their respective markets.
Intermodal tank containers are used for the transport and storage of
liquid foodstuffs, chemicals, and gases. The manufacturing and operation
of tank containers is a strictly regulated activity, requiring
specialized expertise. Financial details of the agreement remain
confidential; however, both companies expect the collaboration to be
immediately accretive to their respective financial results.
“This is an exciting opportunity and major step for Textainer,”
commented Philip K. Brewer, President and Chief Executive Officer of
Textainer. “We have long been interested in leasing tank containers, but
hesitated due to the need for additional customer relationships and
technical expertise which we do not have. Trifleet is a recognized
leader in the tank leasing industry known for its deep expertise and
professional service and for the superior quality of its containers. We
view this partnership as a true ‘win-win’ for both companies.”
“We are excited to join forces with Textainer, the industry leader and
world’s largest lessor of intermodal containers,” commented Philip J.R.
van Rooijen, Managing Director of Trifleet. “Our partnership will enable
us to grow more rapidly due to our increased possibilities to invest,
supported by Textainer’s size, strong purchasing power and demonstrated
access to low cost financing. We are proud that Textainer determined
that the experience and expertise of Trifleet were essential for its
entry into the tank container market. Apart from our high quality tanks
and deep expertise, our customers expect a supply of tank containers
whenever they need them. Our partnership with Textainer enables us to
further deliver and expand on that commitment."
About Textainer Group Holdings Limited
Textainer Group Holdings Limited has operated since 1979 and is the
world's largest lessor of intermodal containers based on fleet size. As
of the most recent quarter end, Textainer had more than 1.9 million
containers, representing more than 2.8 million TEU, in its owned and
managed fleet. Textainer leases dry freight, dry freight specialized,
and refrigerated containers. Textainer is one of the largest purchasers
of new containers as well as one of the largest sellers of used
containers. Textainer leases containers to approximately 400 shipping
lines and other lessees and sells containers to more than 1,100
customers worldwide and provides services worldwide via a network of
regional and area offices, as well as independent depots. More
information is available on the Company’s website at http://investor.textainer.com.
About Trifleet Leasing
Trifleet Leasing is the world’s largest owner managed tank container
leasing company, providing a first class rental fleet that spans the
globe. As of 1 May 2013, Trifleet had a fleet of more than 9,300 owned
and managed tank containers, excluding containers subject to
lease-purchase arrangements. Trifleet focuses on providing top quality,
reliable tank containers, expert advice and professional, responsive
service for the leasing of its standard and special tanks such as gas
tanks, lined and cool tanks, electrically heated tanks and swap tank
containers. Trifleet is proud to be 100% owned by its management team.
More information is available on the Company’s website at www.trifleet.com.
Source: Textainer Group Holdings Limited
Textainer Group Holdings Limited
Hilliard C. Terry, III, +1
Executive Vice President and Chief Financial Officer
Leasing Holding B.V.
Edwin van Wijk, +31 623480217