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TRENCOR LIMITED - Trencors Textainer partners with Trifleet to expand into tank container leasing market

Release Date: 05/06/2013 11:04
Code(s): TRE     PDF:  
Wrap Text
Trencor’s Textainer partners with Trifleet to expand into tank container leasing market

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

TRENCOR’S TEXTAINER PARTNERS WITH TRIFLEET TO EXPAND INTO
TANK CONTAINER LEASING MARKET
We draw attention to the following news release issued by Textainer Group Holdings
Limited, in which Trencor has a 48,5% beneficiary interest:

“THE INDUSTRY LEADER IN INTERMODAL DRY CONTAINER LEASING
PARTNERS WITH TANK CONTAINER LEASING EXPERT TO INVEST IN
INTERMODAL TANK CONTAINERS

Hamilton, Bermuda & Dordrecht, Netherlands - (Business Wire) - Jun. 5, 2013 -
Textainer Group Holdings Limited (NYSE: TGH) and Trifleet Leasing (The
Netherlands) B.V. signed an agreement under which Textainer will invest in new
intermodal tank containers to be managed by Trifleet, marking Textainer’s entry into the
tank container market. Trifleet will acquire and lease the containers on behalf of
Textainer, serving as its exclusive manager in the intermodal tank container market. The
collaboration builds on the strength of the two companies: Trifleet’s expertise and
reputation as a premier tank container lessor; and, Textainer’s industry leading size,
purchasing power and access to competitive cost of funds. Both companies will continue
to operate independently and to focus on remaining the most reliable supplier of
containers in their respective markets.

Intermodal tank containers are used for the transport and storage of liquid foodstuffs,
chemicals, and gases. The manufacturing and operation of tank containers is a strictly
regulated activity, requiring specialized expertise. Financial details of the agreement
remain confidential; however, both companies expect the collaboration to be
immediately accretive to their respective financial results.

“This is an exciting opportunity and major step for Textainer,” commented Philip K.
Brewer, President and Chief Executive Officer of Textainer. “We have long been
interested in leasing tank containers, but hesitated due to the need for additional
customer relationships and technical expertise which we do not have. Trifleet is a
recognized leader in the tank leasing industry known for its deep expertise and
professional service and for the superior quality of its containers. We view this
partnership as a true ‘win-win’ for both companies.”

“We are excited to join forces with Textainer, the industry leader and world’s largest
lessor of intermodal containers,” commented Philip J.R. van Rooijen, Managing Director
of Trifleet. “Our partnership will enable us to grow more rapidly due to our increased
possibilities to invest, supported by Textainer’s size, strong purchasing power and
demonstrated access to low cost financing. We are proud that Textainer determined that
the experience and expertise of Trifleet were essential for its entry into the tank container
market. Apart from our high quality tanks and deep expertise, our customers expect a
supply of tank containers whenever they need them. Our partnership with Textainer
enables us to further deliver and expand on that commitment."

ABOUT TEXTAINER GROUP HOLDINGS LIMITED

Textainer Group Holdings Limited has operated since 1979 and is the world's largest
lessor of intermodal containers based on fleet size. As of the most recent quarter end,
Textainer had more than 1.9 million containers, representing more than 2.8 million TEU,
in its owned and managed fleet. Textainer leases dry freight, dry freight specialized, and
refrigerated containers. Textainer is one of the largest purchasers of new containers as
well as one of the largest sellers of used containers. Textainer leases containers to
approximately 400 shipping lines and other lessees and sells containers to more than
1,100 customers worldwide and provides services worldwide via a network of regional
and area offices, as well as independent depots. More information is available on the
Company’s website at http://investor.textainer.com.

ABOUT TRIFLEET LEASING

Trifleet Leasing is the world’s largest owner managed tank container leasing company,
providing a first class rental fleet that spans the globe. As of 1 May 2013, Trifleet had a
fleet of more than 9,300 owned and managed tank containers, excluding containers
subject to lease-purchase arrangements. Trifleet focuses on providing top quality,
reliable tank containers, expert advice and professional, responsive service for the
leasing of its standard and special tanks such as gas tanks, lined and cool tanks,
electrically heated tanks and swap tank containers. Trifleet is proud to be 100% owned
by its management team. More information is available on the Company’s website at
www.trifleet.com.

Source: Textainer Group Holdings Limited
Textainer Group Holdings Limited
Hilliard C. Terry, III, +1 415-658-8214
Executive Vice President and Chief Financial Officer
ir@textainer.com
or
Trifleet Leasing Holding B.V.
Edwin van Wijk, +31 623480217
FTI/VALUE@STAKE Public Relations
EvanWijk@valueatstake.nl”



Trencor Services (Pty) Ltd
Secretaries
5 June 2013

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

www.trencor.net

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