GATX

Statement from GATX Rail Europe

GATX Rail Europe is working with Ferrovie dello Stato (FS) to understand the basis upon which FS has suspended the use of our wagons in Italy.  While we believe there is no information to support such an action, in a cooperative spirit we will work diligently with FS.
 
Authorities have not granted GATX Rail Europe access to the Viareggio accident site or the opportunity to inspect the derailed wagons.  Therefore we have been unable to conduct our own analysis.
 
“Given the current presumptions that a break in the axle might be connected to the accident, we want to eliminate any possible hazard to the public,” says Mr. Johannes Mansbart, Chief Executive Officer of GATX Rail Europe.
 
GATX Rail Europe has decided today as a measure of precaution to proactively test all of its axles in LPG (liquified petroleum gas) wagons in Italy which have comparable technical properties to the axle of the wagon which was involved in the accident.
 
Mr. Mansbart emphasized, “This measure does not imply that any failure on GATX Rail Europe’s part was the cause of the accident in Viareggio. This measure is a general safety check to restore complete confidence of our customers and the general public in the historically proven integrity of GATX Rail Europe wagons.”
 
To minimize the operational disruption for GATX Rail Europe customers resulting from the testing program, GATX Rail Europe will immediately exchange all axles under relevant wagons.  All axles taken out of wagons under this testing program will be subjected to thorough technical assessment to verify the integrity of the axles’ operating condition. GATX Rail Europe will discuss the most appropriate testing arrangements with the Italian authorities.
 
GATX Rail Europe is cooperating closely with all authorities involved and will inform its clients proactively about the axle exchange program and how it will affect their wagons.
 
Wien, July 2nd 2009
 
GATX Rail Europe is a unit of the U.S.-based GATX Corporation. GATX Rail Europe leases rail wagons to clients which transport liquid mineral oils and other commodities.