Missouri Railcar Manufacturer Sells Subsidiary

American Railcar Industries Inc. has sold its interest in Amtek Railcar to private investment company Cresta Fund Ltd. for $2.3 million in cash. Amtek Railcar is a joint venture formed by subsidiaries of American Railcar, and a wholly-owned subsidiary of Amtek Auto Limited, to produce railcars and railcar components in India.

As a result of the sale, American Railcar no longer participates in Amtek Railcar. St. Charles-based American Railcar, which also leases, repairs and refurbishes railcars; provides fleet management services; and designs and manufactures railcar components, reported net income of $35.6 million for its third quarter ended Sept. 30 on revenue of $198.9 million.

Read more from the St. Louis Business Journal

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