January 28, 2015
ATEL Leasing Corporation (“ATEL”) is proud to announce the completion of a $17MM equipment lease transaction with the Union Pacific Railroad Company (“UP”). The contract calls for ATEL to lease GE AC4400CW locomotives to UP. The 6-axle 4,400 horsepower locomotive is a powerful freight hauler commonly used to pull coal trains. The GE AC4400CW represents 20% of UP’s total locomotive fleet.
“Union Pacific Railroad Company has been a valued partner with ATEL over many years,” said Dean Cash, President and CEO of ATEL. “Fortune 500 company, Union Pacific, strengthens our portfolio and further reinforces the company’s investment philosophy of providing industry leading companies with business-essential assets.”
Union Pacific Railroad, founded in 1862, operates 8,300 locomotives over 31,800 route-miles in 23 states west of Chicago, Illinois and New Orleans, Louisiana. The company’s network is the largest in the United States and is serviced by 45,400 employees.