Beacon Rail Leasing Acquires 27 Diesel Locomotives from MRCE

Image Courtesy of Siemens

UK based company Beacon Rail Leasing have finalised the purchasing agreement with Mitsui Rail Capital Europe (MRCE) for 27 diesel locomotives. The locomotives were sold with lease contracts to various rail cargo operators. The first 10 locomotives have been delivered to various locations around Germany and the rest of the order will be delivered in the coming months.

The fleet to be delivered includes 17 EMD Class 66 locomotives and 10 Siemens ER20 locomotives. The contract between Beacon Rail Leasing and MRCE includes all rights and obligations under the existing active lease contracts and strengthens the strategic position of both companies.

Siemens and Class 66 Locomotive Fleet

Acquiring this portfolio of diesel locomotives is in line with our strategy, growth ambitions, and our commitment to being the leader in this segment of the market, said Ted Gaffney, CEO of Beacon Rail Leasing. It adds to our existing fleet of heavy diesel locomotives. Our current fleet includes a significant number of Class 66 locomotives, so this acquisition allows us to continue to leverage our existing skills, expertise and experience to better serve the needs of our customers and the market. The acquisition of the ER20 locomotives expands our reach deeper into western and central Europe, so we are very pleased with this transaction.

For more than 10 years we have had a strong position in the European railway market. stated Masayoshi Hosoya, CEO of MRCE. This strong position comes from differentiated technical expertise and strong relationships with our clients. Those strengths have been helping us to build a portfolio which is prepared for the future. MRCE is constantly working on improving its services and locomotive fleet and for this reason we decided to sell these locomotives and to invest in core assets. With this transaction we believe we are creating a win-win situation for both companies involved. It allows MRCE to focus more on enhancing our core competencies of technical services and capturing the fast-growing demand of the locomotive lease market.