The wagons will be a mixture of new wagons sourced from Trinity's backlog of leased vehicles and leased wagons from Trinity Industries Leasing. The partners may also acquire wagons leased by other companies to become part of the portfolio.

Trinity Industries Leasing will continue to be exclusively responsible for leasing the wagons to operators. The annual volume of sales to Element has yet to be determined.

"We believe the long-term extension of our successful alliance with Element further strengthens our unique railcar investment vehicle platform," says Mr Stephen Menzies, senior vice-president with Trinity Industries and group president for Trinity's wagon manufacturing and leasing businesses.