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TRENCOR LIMITED - Trencors Textainer To Acquire 52 000 Teu From Managed Container Portfolio

Release Date: 11/09/2012 08:24
Code(s): TRE     PDF:  
Wrap Text
Trencor’s Textainer To Acquire 52 000 Teu From Managed Container Portfolio

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor”)

TRENCOR’S TEXTAINER TO ACQUIRE 52 000 TEU FROM MANAGED CONTAINER
PORTFOLIO
We draw attention to the following news release issued by
Textainer Group Holdings Limited, in which Trencor has a 60,0%
beneficiary interest:

Hamilton, Bermuda - (Business Wire) - Sep. 10, 2012 - Textainer
Group Holdings Limited (NYSE: TGH) (“Textainer”, the “Company”,
“we”, and “our”), the world’s largest lessor of intermodal
containers based on fleet size, today announced that it has
entered into two separate agreements to acquire 52,000 TEU
(twenty-foot equivalent units) from its managed fleet for
approximately $66 million with the transfer of ownership rights
effective as of August 1, 2012.     The purchase of approximately
4,300 TEU was completed on August 1, 2012 and the purchase of
approximately 47,800 TEU is expected to close by the end of
September 2012.   The two acquired fleets consist of standard dry
freight containers and the purchases increase the percentage of
Textainer’s owned fleet from 61% as of July 31, 2012 to 63% as of
August 1, 2012.

“We are pleased to once again take advantage of opportunities
presented by the current industry fundamentals and enter into
another accretive transaction for our shareholders,” stated Philip
K. Brewer, President and CEO of Textainer.        “While managing
containers is a key part of our business strategy, container
ownership is typically more profitable.     This transaction will
increase the owned portion of our fleet and position us to further
increase our profitability. We intend to continue to utilize our
financial resources to take advantage of similar opportunities
that allow us to grow the owned portion of our fleet,” commented
Mr. Brewer.

Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com”
Trencor Services (Pty) Ltd
Secretaries
11 September 2012

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

www.trencor.net

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