New top man for Eurotainer

The sale to a Canadian-German consortium is in line with earlier reports

The debt-laden French railways group is to sell its wagons and tank containers leasing arm for around €3.2B

Although the near record output of tanks in 2012 coincided with stuttering economies and faltering business activity, tank lessors now have the inventory to push into emerging and niche markets.

Subject to the approval of the relevant competition authorities, the Transport and Logistics Division of SNCF (French Rail) will take 100% control of Switzerlandbased wagon rental and tank container leasing company Ermewa by buying out the majority 50.4% stake held by Investors in Private Equity. SNCF already holds the remaining 49.6% stake in the company.

While margins are still under pressure, a perennial problem faced by tank container leasing companies – poor fleet utilisation – has disappeared in recent years.

Following the long, five-year depressed market for tanks, tank container lessors are now enjoying strong demand for their services on the back of a vibrant world economy and surging chemical production. The persistent oversupply of tanks has finally been whittled away and the industry’s reviving fortunes are being aided by the rapid pace of industrialisation in China.