Trencor’s Textainer acquires 24 000 TEU from managed container portfolio and ends 2012 with a record 72% owned fleet
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
TRENCOR'S TEXTAINER ACQUIRES 24 000 TEU FROM MANAGED CONTAINER PORTFOLIO AND ENDS 2012 WITH A RECORD 72% OWNED FLEET
We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 48,93% beneficiary interest:
"Hamilton, Bermuda - (Business Wire) - Jan. 2, 2013 - Textainer Group Holdings Limited (NYSE: TGH) ("Textainer", "we", and "our"), the world's largest lessor of intermodal containers based on fleet size, today announced that it acquired approximately 24,000 TEU (twenty-foot equivalent units) of standard dry freight containers from its managed fleet for approximately $32.6 million. The acquisition increases the percentage of Textainer's owned fleet to 72% from 59% at the start of 2012
"We are pleased to end the year with another purchase from our managed fleet as we continue to execute on Textainer's long standing strategy to grow our overall fleet and increase the ownership percentage," commented Philip K. Brewer, Textainer President and Chief Executive Officer.
"This is now Textainer's fifth managed container acquisition in the last five months, totaling $275 million and 257,000 TEU, as we continue to effectively deploy the additional equity we raised in the third quarter. We are very pleased with our year end fleet ownership and performance and are excited about the full year contribution to earnings these fleets will provide in 2013."
"The recently acquired containers are seasoned income producing assets. We expect these transactions will be immediately accretive to earnings and to contribute to long-term growth in shareholder value," concluded Mr. Brewer.
Textainer Group Holdings Limited
Mr. Thomas J. Gallo, +1-415-658-8227
Investor Relations Director
Trencor Services (Pty) Ltd
03 January 2013
Rand Merchant Bank (A division of FirstRand Bank Limited)