MUL Railcars, a subsidiary of Mitsubishi UFJ Lease & Finance Company, reached a significant milestone in the company’s growth. The global leasing company added the 10,000th railroad car to its expanding fleet of new cars for lease.

MULR CEO, J.T. Sharp, commented, “Over the course of the last year, MULR has established core executive, administrative and growing commercial and operations teams to support the planned growth of the MULR rail leasing platform. During the same one-year period, MULR has doubled the size of its fleet to more than 10,000 cars. I could not be prouder of our people or more grateful to our customers who have made it possible for us to reach this material milestone. This is a meaningful first step, and I am really pleased that we have done so ahead of schedule. With our talented team, global business relationships and strong financial backing, we are in position to become one of the top 10 U.S. railcar operating lessors in the coming years. We’re committed to be the most responsive, reliable and competitive rail lessor in North America. Scale is important, but it is not a substitute for quality, and that is our number one priority.”

MULR will continue to grow a diverse portfolio through primary and secondary acquisition channels and continues to build a professional leasing organization that delivers solid value through comprehensive leasing and service solutions in keeping with MUL’s high standards for integrity and customer focus. By 2020, MULR plans to expand its portfolio to 25,000 railroad cars.