View source for GATX

{{Use American English|date=April 2023}}
{{Use mdy dates|date=April 2023}}
{{Short description|Equipment finance company}}
{{Infobox company
| name          = GATX Corporation
| logo          = GATX Logo.svg
| image         = EMD GP38-2 GMTX 2146.jpg
| image_caption = A GATX [[EMD GP38-2]] locomotive
| type          = [[Public company]]
| traded_as     = {{NYSE|GATX}}<br>[[List of S&P 400 companies|S&P 400]] component
| industry      = Railcar leasing
| foundation    = {{Start date and age|1898}}
| founder       = Max Epstein
| location      = [[Chicago]], [[Illinois]]
| key_people    = Robert C. Lyons, [[CEO]]
| revenue       = {{increase}} $1.209 billion (2020)
| net_income    = {{decrease}} $151 million (2020)
| assets        = {{increase}} $8.937 billion (2020)
| equity        = {{increase}} $1.957 billion (2020)
| num_employees = 1,904 (2020)
| homepage      = {{Official URL}}
| footnotes     = <ref name="10K">{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/40211/000004021121000018/gmt-20201231.htm | title=GATX Corporation 2020 Form 10-K Annual Report | publisher=[[U.S. Securities and Exchange Commission]] }}</ref>
}}
'''GATX Corporation''' is a railcar lessor that owns fleets in North America, Europe, and Asia. In addition, jointly with [[Rolls-Royce Holdings|Rolls-Royce Limited]], it owns one of the largest aircraft spare engine lease portfolios. It is headquartered in [[Chicago, Illinois]]. As of December 31, 2020, the company owned 148,939 rail cars, including 83,959 [[tank car]]s, 64,980 [[freight car]]s, and 645 [[locomotive]]s. Other major car types owned include [[covered hopper]]s, open-top [[hopper car]]s, and [[gondola (rail)|gondolas]]. It primarily serves the [[petroleum industry]] (29% of 2020 revenues), [[chemical industry]] (22% of 2020 revenues), [[food industry]] (11% of 2020 revenues), [[mining industry]] (10% of 2020 revenues), and [[transportation industry]] (20% of 2020 revenues).<ref name="10K" />
==History==
[[File:MaspethDSC02183 09.jpg|thumb|GATX freight car in New York City]]
The company was founded as Atlantic Seaboard Dispatch in [[Chicago]], [[Illinois]], in 1898 by [[Edgecliff (Winnetka, Illinois)|Max Epstein]] to ship beer in refrigerated railcars for [[Duquesne Brewing Company]].<ref name="10K" /><ref name="chicago">{{Cite encyclopedia |url=http://www.encyclopedia.chicagohistory.org/pages/2681.html |title=General American Transportation Corp |encyclopedia=[[Encyclopedia of Chicago]] }}</ref>
In 1902, the company was renamed German-American Car Co. In 1916, it changed its name to General American Tank Car Corp. and became a [[public company]] via an [[initial public offering]], and in 1933, it was renamed General American Transportation Corp.<ref name="chicago" />
In 1949, the company worked with designer [[Russel Wright]] to develop "Meladur", a [[melamine]] [[dinnerware]].<ref>{{Cite web | url=https://npgallery.nps.gov/GetAsset/9d9563bc-c7e8-46b7-b600-348f055fbb74 | title=NATIONAL HISTORIC LANDMARK NOMINATION: MANITOGA | publisher=[[National Park Service]] | date=February 17, 2006 }}</ref>
Effective January 1, 2000, General American Transportation Corporation was renamed GATX Rail Corporation, a unit of GATX Corporation.<ref>{{Cite web | url=https://www.annualreports.com/HostedData/AnnualReportArchive/g/NYSE_GMT_1999.pdf | title=GATX Corporation 1999 Annual Report}}</ref>
In 2004, the company sold its technology-leasing unit to [[CIT Group]] for about $200 million in cash.<ref>{{Cite news | url=https://www.nytimes.com/2004/04/16/business/company-news-cit-to-buy-leasing-unit-from-gatx-for-about-200-million.html | title=Company News: CIT TO BUY LEASING UNIT FROM GATX FOR ABOUT $200 MILLION | agency=[[Bloomberg News]] | work=[[The New York Times]] | date=April 16, 2004 | url-access=limited}}</ref>
In September 2013, the company sold its 37.5% interest in AAE Ahaus Alstätter Eisenbahn Cargo AG to its partner, AAE Ahaus Alstätter Eisenbahn, for €84.5 million.<ref>{{Cite press release | url=https://www.businesswire.com/news/home/20130926005750/en/GATX-Corporation-Announces-the-Sale-of-Its-Interest-in-AAE-Cargo | title=GATX Corporation Announces the Sale of Its Interest in AAE Cargo | publisher=[[Business Wire]] | date=September 26, 2013}}</ref>
In March 2014, the company acquired the North American per diem boxcar fleet of [[GE Capital Rail Services]], consisting of more than 18,500 boxcars.<ref>{{Cite press release | url=https://www.businesswire.com/news/home/20140324005210/en/GATX-Corporation-Announces-Acquisition-of-More-Than-18500-Railcars-from-GE-Capital-Rail-Services | title=GATX Corporation Announces Acquisition of More Than 18,500 Railcars from GE Capital Rail Services | publisher=[[GlobeNewswire]] | date=March 24, 2014 }}</ref>
In November 2018, the company announced an agreement to acquire up to 3,100 railcars from [[ECN Capital]] for up to $229 million.<ref>{{Cite press release | url=https://www.globenewswire.com/news-release/2018/11/12/1650024/0/en/GATX-Corporation-Announces-Acquisition-of-Up-to-3-100-Railcars.html | title=GATX Corporation Announces Acquisition of Up to 3,100 Railcars | publisher=GlobeNewswire | date=November 12, 2018}}</ref>
In May 2020, the company sold [[American Steamship Company]], its dry bulk vessel business, to Rand Logistics for $260 million.<ref>{{Cite press release | url=https://www.globenewswire.com/news-release/2020/05/14/2033603/0/en/GATX-Corporation-Completes-Sale-of-American-Steamship-Company-Business-Segment.html | title=GATX Corporation Completes Sale of American Steamship Company Business Segment | publisher=GlobeNewswire | date=May 14, 2020 }}</ref>
In December 2020, the company acquired Trifleet Leasing Holding B.V., the fourth largest global [[tank container]] lessor.<ref>{{Cite press release | url=https://www.globenewswire.com/news-release/2020/12/30/2151727/0/en/GATX-Corporation-Acquires-Tank-Container-Lessor-Trifleet-Leasing.html | title=GATX Corporation Acquires Tank Container Lessor Trifleet Leasing | publisher=GlobeNewswire | date=December 30, 2020 }}</ref>
==Reporting marks==
[[File:GATX 37 84 7829 533-0, 2020 Albertirsa.jpg|thumb|200px|GATX tank car in Europe]]
GATX's primary freight car [[reporting mark]]s are:
* GATX (for tank cars)
* GACX (for general-service freight cars)
* GGPX (for coal cars)
* GIMX (for intermodal cars)
* GPLX (for plastic pellet cars)
* GMTX and LLPX (for locomotives)
* GPFX (for pressure-differential cars)
GATX also owns other marks including CGTX, GABX, GAEX, GCCX, GFSX, GOHX, GSCX, IPSX, and TRIX including for [[General American Marks Company]] and GATX Rail. Many GATX cars carry a large "GATX" logo in the upper corner of the cars regardless of the reporting mark they carry; this logo is applied for marketing reasons and does not have any operational significance.<ref>{{cite web |title=Interchange: General American Transportation Corp |url=https://jbritton.pennsyrr.com/index.php/tpm/interchange-series/644-interchange-general-american-transportation-corp |website=pennsyrr.com |access-date=February 5, 2022}}</ref>
==References==
{{Reflist}}
==External links==
{{Commons category|General American Transportation Corporation}}
* {{Official website}}
{{Illinois Corporations}}
{{Refrigerator Car Lines of the United States}}
{{S&P 400 companies}}
{{Authority control}}
[[Category:1898 establishments in Illinois]]
[[Category:1910s initial public offerings]]
[[Category:Companies based in Chicago]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Rolling stock leasing companies]]
[[Category:Transportation companies based in Illinois]]
[[Category:Transportation companies of the United States]]
[[Category:Companies in the S&P 400]]