The Western Railroad Equipment Company [WREC] began operations in 1996. Our mission is to provide innovative and service-oriented rail car leasing to a broad customer base. While we have leased rail cars to a number of large companies in the shipping community, our niche is in serving the railroad short line industry and those railroads' customers.
WREC is affiliated with two of the strongest regional railroads in the industry today - the Red River Valley & Western Railroad [RRVW] and the Twin Cities & Western Railroad [TCW]. The RRVW is a regional railroad serving a variety of shippers in southeastern North Dakota over a 600 mile system. The TCW, which operates over 200 miles of track in Minnesota, also serves a broad customer base and in integrally involved in moving Minnesota agriculture commodities to Twin Cities terminals and beyond. Being affiliated with these two railroads gives WREC a unique understanding of the problems and issues confronting the short line industry; particularly as it relates to car supply.
We have the capability to lease virtually any car type, from covered hoppers to tank cars, and, if we do not have the car that a customer needs, we have a broad network from which to source the car and get it in the customer's service. Our lease terms can be tailored to meet the lessee's specific requirements. We will write full service leases, net leases, leases with a purchase option, and multi-year seasonal leases on certain car types. Our goal is to provide the lessee with the right equipment at the most competitive lease rates.
The RRVW has a car shop in Breckenridge, Minnesota at which much of the maintenance on our car fleet is performed. By doing a large part of the maintenance on our car fleet we are better able to control the quality of the workmanship that goes into our cars. Down time on equipment costs both the lessor and the lessee. Equipment costs can make all the difference in the competitive transportation industry.