Mitsubishi UFJ Lease & Finance, U.S. Railcar Business Update

PORTLAND, Ore., Jan. 12, 2018 /PRNewswire/ -- Mitsubishi UFJ Lease & Finance Company Limited ("MUL") announces the executive appointments to MUL Railcars, Inc. ("MULR") leadership team. 

Kent Boskovich has been appointed Chief Commercial Officer. Kent has more than 20 years executive management experience in transportation equipment leasing, the last ten years as President of Union Leasing.  Andy Vestergaard has been appointed Chief Investment Officer.  Andy comes to MULR following 20 years of service with GATX, the last four years as VP & Executive Director of Rail Structured Finance. Mark Mason has been appointed Senior Vice President of Sales. Mark spent 14 years with Hempel in the industrial coatings business, the last 7 years managing the rail coatings business.  Terry Ikeda has been appointed Executive Vice President.  Terry has over 8 years of executive experience with Mitsubishi UFJ Lease & Finance Company Limited (MUL) internationally.

MULR CEO, J.T. Sharp commented, "I am excited and really fortunate to have been able to assemble a high quality initial executive staff so quickly. Kent, Andy, Mark and Terry all bring energy, integrity and years of experience in the rail markets, finance and transportation leasing. Most importantly they know what it is to work collaboratively as a team and with our customers. The talent of this group combined with the incredible strength and commitment of MUL as our parent sponsor, put us on really sound footing for the future."

MULR will continue to build out its commercial and internal support team.  MULR aims to expand its portfolio to hold 25,000 railroad cars by 2020, and position itself to grow into a top 10 US railcar operating lessor. MULR will continue to grow a diverse portfolio through primary and secondary acquisition channels and build a professional leasing organization that delivers competitive & comprehensive leasing and service solutions in keeping with MUL's high standards for integrity and customer focus. 

About MUL

Mitsubishi UFJ Lease & Finance Company Limited (MUL) is a prominent global leasing company headquartered in Tokyo, Japan. MUL, incorporated in April 1971, focuses on leasing, installment sales, various types of financing, and international business. MUL's principal shareholders are Mitsubishi Corporation, Mitsubishi UFJ Financial Group, Inc. MUL is publicly listed on the Tokyo Stock Exchange (TSE:8593) and the Nagoya Stock Exchange (NSE:8593).

As one of the industry's leading companies, MUL's business extends beyond conventional leasing and finance, with the company offering a wide variety of services including eco-and energy-related services, real estate, medical and long-term care services, overseas market-entry support, used equipment trading business and global asset business.

SOURCE MUL Railcars