| Tue 18 Aug 2009, 15:17 | | TRE/MOB - Trencor/Mobile - Trencor`s Textainer concludes large refrigerated |
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MOB TRE
MOB TRE
TRE/MOB - Trencor/Mobile - Trencor`s Textainer concludes large refrigerated
container transaction with hanjin shipping
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
TRENCOR`S TEXTAINER CONCLUDES LARGE REFRIGERATED CONTAINER TRANSACTION WITH
HANJIN SHIPPING
We draw attention to the following news release issued by Textainer Group
Holdings Limited, in which Trencor has a 62,3% interest:
"Hamilton, Bermuda, August 18, 2009 (Business Wire) -- Textainer Group
Holdings Limited (NYSE: TGH) ("Textainer" or the "Company"), the world`s
largest lessor of intermodal containers based on fleet size, today reported
that 650 40` High Cube reefers have been committed to a long-term lease with
Hanjin Shipping with delivery starting in September 2009.
Hanjin Shipping is the largest container carrier in South Korea, and the
10th largest carrier in the World, operating some 60 services across the
globe.
Textainer entered the refrigerated container market in 2008, and now
operates a fleet of 10,000 refrigerated containers.
"We are pleased to have concluded our largest single new reefer transaction,
positioning the Company to further enhance its industry leadership and
earnings potential over the long-term," commented John A. Maccarone,
President and CEO of Textainer. "The accretive reefer transaction with
Hanjin Shipping, which will result in a $10.5 million capital expenditure,
meets our strict return criteria and furthers our strategy of securing a
significant percentage of our fleet on long-term leases. With more than $350
million in liquidity and low leverage, we intend to continue to seek
additional opportunities to further grow the Company in a disciplined
manner."
Mr. Maccarone continued, "Despite the downturn in the global shipping
market, demand for reefers has remained relatively strong. Since dry-
freight container manufacturers remain closed, it is likely that
refrigerated containers will be the only new production added to the world
container fleet during 2009."
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world`s largest lessor of
intermodal containers based on fleet size. We have a total of more than 1.5
million containers, representing over 2.3 million TEU units, in our owned
and managed fleet. We lease containers to more than 400 shipping lines and
other lessees. We principally lease dry freight containers, which are by far
the most common of the three principal types of intermodal containers,
although we also lease specialized and refrigerated containers. We have also
been one of the largest purchasers of new containers among container lessors
over the last 10 years. We believe we are also one of the largest sellers of
used containers, having sold more than 170,000 containers during the last
two years to more than 1,000 customers. We provide our services worldwide
via a network of 14 regional and area offices and over 330 independent
depots in more than 150 locations.
Contact:
Textainer Group Holdings Limited
Mr. Tom Gallo, 415-658-8227
Investor Relations Director
ir@textainer.com"
Trencor Services (Pty) Ltd
Secretaries to Trencor and Mobile
18 August 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
www.trencor.net
www.mobile-industries.net
Date: 18/08/2009 15:17:02 Produced by the JSE SENS Department.
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