Textainer obtains rights to Amficon fleet

Commenting on the agreement, John Maccarone, president and CEO of Textainer, said, “Textainer has once again capitalised on an attractive opportunity with a view toward strengthening the company’s leading industry position and increasing its earnings power in a prudent manner. Importantly, we expect this acquisition of management rights to provide economies of scale by reducing our overhead cost per container below its already very low level.”

Amficon’s significant number of flatrack and open top containers will more than double Textainer’s fleet of specialised containers, a market segment in which the company wishes to grow as part of its focus on strategically increasing the scope of its services.

Looking to the future, Maccarone said that Textainer planned to continue to utilise its management expertise and financial strength, which includes over US$300m of liquidity with credit facilities and available cash, to take advantage of the current market conditions and seek opportunities in acquisitions, purchase-leasebacks and long-term lease transactions that will increase earnings.