GATX Corporation Completes Sale of American Steamship Company Business Segment

CHICAGO, May 14, 2020 (GLOBE NEWSWIRE) -- GATX Corporation (NYSE:GATX) today announced that it completed the sale of its American Steamship Company (ASC) business to Rand Logistics, LLC for approximately $260 million in cash proceeds, subject to customary post-closing adjustments.  This is the final step in the sale of ASC to Rand Logistics, LLC, as previously announced on Feb. 10, 2020.  

GATX expects to use the net sales proceeds to repay outstanding indebtedness under its $250 million revolving credit facility‎.

COMPANY DESCRIPTION
GATX Corporation (NYSE:GATX) strives to be recognized as the finest railcar leasing company in the world by our customers, our shareholders, our employees and the communities where we operate. As the leading global railcar lessor, GATX has been providing quality railcars and services to its customers for over 121 years. GATX has been headquartered in Chicago, Illinois since its founding in 1898. For more information, please visit the Company's website at www.gatx.com.

FORWARD-LOOKING STATEMENTS
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