-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IqUitAlitUQbHWJVI9MjQy2CVobIG80i5Nma94eVLWU2Gyc60UeaUoVSQgvxx7Tc HNbb4ZBy1PG2fpnjvdrB9Q== 0000950137-04-002834.txt : 20040415 0000950137-04-002834.hdr.sgml : 20040415 20040415170010 ACCESSION NUMBER: 0000950137-04-002834 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040415 ITEM INFORMATION: Acquisition or disposition of assets FILED AS OF DATE: 20040415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GATX CORP CENTRAL INDEX KEY: 0000040211 STANDARD INDUSTRIAL CLASSIFICATION: TRANSPORTATION SERVICES [4700] IRS NUMBER: 361124040 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-02328 FILM NUMBER: 04736388 BUSINESS ADDRESS: STREET 1: 500 W MONROE ST CITY: CHICAGO STATE: IL ZIP: 60661 BUSINESS PHONE: 3126216200 FORMER COMPANY: FORMER CONFORMED NAME: GENERAL AMERICAN TRANSPORTATION CORP DATE OF NAME CHANGE: 19750722 8-K 1 c84554e8vk.txt CURRENT REPORT ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT ---------------------------- PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of Earliest Event Reported): April 15, 2004 ---------------------------- GATX Corporation (Exact Name of Registrant as Specified in its Charter) New York 1-2328 36-1124040 (State or other jurisdiction of (Commission File (IRS Employer incorporation) Number) Identification No.) 500 West Monroe Street Chicago, Illinois 60661-3676 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (312) 621-6200 ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS. On April 15, 2004, GATX Corporation issued a press release announcing that it has agreed to sell substantially all the assets and related non-recourse debt of its information technology (IT) leasing business, GATX Technology Services, to CIT Group Inc. The transaction is expected to close by July 31, 2004. Terms of the transaction were not disclosed. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. GATX CORPORATION --------------------------- (Registrant) /s/ Brian Kenney --------------------------- Brian A. Kenney Senior Vice President and Chief Financial Officer (Duly Authorized Officer) Date: April 15, 2004 INDEX TO EXHIBITS Exhibit No. Method of Filing - ----------- ---------------- 99a GATX Corporation press release Filed Electronically dated April 15, 2004 EX-99.A 3 c84554exv99wa.txt PRESS RELEASE [GATX LOGO] NEWS RELEASE FOR RELEASE: IMMEDIATELY GATX CORPORATION TO SELL INFORMATION TECHNOLOGY LEASING ASSETS CHICAGO, April 15 - GATX Corporation (NYSE:GMT) today announced that it has agreed to sell substantially all the assets and related non-recourse debt of its information technology (IT) leasing business, GATX Technology Services, to CIT Group Inc. The transaction is expected to close by July 31, 2004. Terms of the transaction were not disclosed. The GATX Technology assets being sold are expected to be approximately $520 million, 7% of GATX's total assets. GATX currently expects cash proceeds from the sale, net of non-recourse debt, to be in the range of $200 million. Ronald H. Zech, president and CEO of GATX Corporation, stated, "In recent years, we have increasingly focused on our two largest businesses, railcar and aircraft leasing, which comprise nearly 80% of our assets. Based on what we believe will be growing and attractive investment opportunities in these markets, we concluded that a sale of our IT leasing assets is the right strategy for GATX and its shareholders. "GATX Technology is a solid business with bright prospects and a quality customer base. However, IT leasing is most valuable to an organization that can use it to complement an array of corporate finance products, including mid- and small-ticket leases. This sale will enable us to capture that value for our shareholders, while also strengthening our focus around our franchise rail and air businesses." GATX Corporation was advised by JPMorgan on this transaction. COMPANY DESCRIPTION GATX Corporation (NYSE:GMT) is a specialized finance and leasing company combining asset knowledge and services, structuring expertise, partnering and capital to serve customers and partners worldwide. GATX specializes in railcar, locomotive, and aircraft leasing. FOR FURTHER INFORMATION CONTACT: Robert C. Lyons Rhonda S. Johnson GATX Corporation GATX Corporation 312-621-6633 415-955-3211 Investor, corporate, financial, historical financial, photographic and news release information may be found at www.gatx.com. -----END PRIVACY-ENHANCED MESSAGE-----