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Rescar to Expand Railcar Field Services Operations

Press Release from Rescar Companies

DOWNERS GROVE, IL - July 3, 2019 (James Street Media Services) - Rescar Companies will undertake a significant expansion of its railcar field Servcices operations following the sale of the Company's six major railcar shops to  Eagle Railcar Services . 

"With the sale of the plant assets," said Rescar CEO and President Joseph F. Schieszler, Jr., "we will be able to make significant investments in the services we provide to our customers. By improving delivery across the breadth of our service offerings, we will furnish uniquely effective solutions for our customers' needs."

Rescar is a premier railcar field services company, with the largest North American network offering railcar repair, cleaning, inspection, testing, maintenance, coating and lining inspection and repairs, and switching, as well as track inspection and maintenance.  Through its field services network, Rescar operates a fleet of strategically located mobile truck-based crews that deliver mobile railcar repair services, dedicated customer Mini-Shops, switching operations, and Fast Track repair services. 

Rescar's experienced teams of cross-trained and strategically located crews are positioned throughout North America to quickly reach cars when services is needed. 

Pending completion of the sale of Rescar's shop assets to Eagle, the two companies are working collaboratively to minimize any disruptions for customers.  As part of the purchase agreement, Eagle will retain all current Rescar shop employees. 

There will be no immediate changes for Rescar Field Services, nor the AllTranstek operations, Rescar's wholly-owned subsidiary which will continue to provide its complete range of third-party services to rail customers without interruption.

"Our focus for 50 years has been to keep customer railcars moving," said Joseph F. Schieszler, Jr. "For Rescar's next half century we are building on our success through innovative additional services and strategic growth in North America," said Schieszler. "It's an exciting time for all of us."

The shop sale is expected to close by the first week of August. Financial terms of the transaction are not being disclosed.
 
ABOUT RESCAR
Rescar Companies (Rescar) is a privately held company that provides services to railcar owners and/or lessors.  From more than 50 field and in-plant locations throughout North America, Rescar's services include mechanical repair, mobile & modular cleaning, in-plant switching, in-plant track repair & maintenance, and troubleshooting. Founded in 1969, Rescar grew from a single location with limited servcies to a North American railcar services company that also owns AllTranstek, North America's largest third-party, non-asset basedprovider of knowledge services to the rail sector. More information is available at www.rescar.com, and www.alltranstek.com.

MEDIA CONTACT
Bill Fahrenwald
James Street Associates
708-528-0681
Email: bill@jamesstreet.net

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