Trinity Industries Closes Sale Of About $396 Million Of Leased Railcars

(RTTNews) - Trinity Industries Inc. (TRN) Tuesday said it closed the sale of the second tranche of leased railcars to Element Financial Corp. (EFN.TO) under the newly formed $2 billion strategic railcar alliance.

The sale consisted of a portfolio of existing leased railcars from Trinity's lease fleet with a value of about $396 million. The profit recognized from the sale in the first quarter of 2014 is expected to be between $1.00 and $1.10 per share.

Combined with the first sale of leased railcars executed last month, Trinity has sold a portfolio of leased railcars with a value of approximately $501 million from its lease fleet under the alliance.