GATX buys 2,500 freight cars for $150M

By Associated Press
Posted Nov. 15, 2010 at 4:29 p.m.

Transportation company GATX Corp. said Monday it bought a fleet of approximately 2,500 freight cars for $150 million.

GATX leases rail cars, ships, and other transportation services to other companies. It said the seller was a financial institution that recently foreclosed on part of the fleet of a company that leased the rail cars.

Shares of GATX rose 20 cents to $32.34 in afternoon trading.

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