The two companies have also formed MUL Greenbrier Management Services, a 50:50 joint venture which will exclusively manage MUL-owned wagons. MUL will obtain all new wagons exclusively from Greenbrier until 2023, as it seeks to expand its wagon fleet from 5000 to 25,000 over the next four years.

MUL will also increase its growth through lease syndications and used equipment owned by Greenbrier. The total value of these transactions exceeds $US 1bn.

Greenbrier says it will receive further income based on the ongoing wagon asset management services provided for the MUL fleet.