DAILY NEWS Jan 27, 2014 8:30 AM - 0 comments

Textainer acquires 30,000 TEU; fleet now stands at record 77% owned

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HAMILTON, Ber.--Intermodal container lessor Textainer Group Holdings Limited has acquired approximately 30,000 TEU (twenty-foot equivalent units) of standard dry freight containers from its managed fleet for approximately $35 million. The acquisition consists of standard dry freight containers and increases the percentage of Textainer’s owned fleet to 77%, the company said.

“We are pleased to once again purchase containers from our managed fleet as we continue to execute on Textainer’s long standing strategy to grow our overall fleet and increase the ownership percentage,” stated Philip K. Brewer, Textainer President and Chief Executive Officer.

“This transaction increases the owned portion of our fleet to 77% up from 59% owned at the start of 2012. The acquired containers are seasoned income producing assets which we expect will be immediately accretive to earnings and contribute to long-term growth in shareholder value," said Brewer.

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