HAMILTON, Bermuda, Apr 02, 2008 (BUSINESS WIRE) -- Textainer Group Holdings Limited (NYSE:TGH) (“Textainer” or the “Company”), the world’s largest lessor of intermodal containers based on fleet size, today reported that 770 units out of the 800 reefer containers, initially purchased in January 2008, have been committed to leases with various shipping lines.
Textainer is pleased to announce that its first reefer container transaction has been completed with Mitsui O.S.K. Lines (MOL). MOL is the world’s 11th largest container vessel operator and has committed to lease 300 40’ High Cube reefers.
As a result of this early success, Textainer has ordered an additional 1,000 40’ High Cube reefers for delivery in May and June of 2008. The reefer machinery will be supplied by Carrier, Daiken and Thermo King.
“We have now placed 95% of our original order, and are very pleased at our customers’ support of our re-entry into the reefer market,” commented John A. Maccarone, President and CEO of Textainer.
He continued, “Textainer expected a fairly modest capital expenditure (CAPEX) of $30 million for reefers in 2008. Based on our initial success with the first units produced, and the recent new order, we may exceed that goal for the year.”
Important Cautionary Information Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. securities laws. Forward-looking statements include statements that are not statements of historical facts, and include statements concerning the Company’s desire and ability to increase the size of its owned container fleet. Readers are cautioned that these forward-looking statements involve risks and uncertainties, are only predictions and may differ materially from actual future events or results.
The Company’s views, estimates, plans and outlook as described within this document may change subsequent to the release of this statement. The Company is under no obligation to modify or update any or all of the statements it has made herein despite any subsequent changes the Company may make in its views, estimates, plans or outlook for the future.
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 1.3 million containers, representing over 2,000,000 twenty-foot equivalent units (TEU), in our owned and managed fleet. We lease containers to more than 300 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. We have also been one of the largest purchasers of new containers among container lessors over the last 12 years. We believe we are also one of the largest sellers of used containers, having sold more than 85,000 containers in 2007. We provide our services worldwide via a network of 14 regional and area offices and over 300 independent depots in more than 130 locations.
SOURCE: Textainer Group Holdings Limited
Textainer Group Holdings Limited Mr. Tom Gallo, 415-658-8227 Corporate Compliance Officer ir@textainer.com
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