Canpotex is the largest exporter of potash and leases around 2,000 railcars from CIT Rail to transport potash from mines in Saskatchewan to ports. CIT Rail has been a strategic partner to Canpotex since 2007 when they first leased railcars. Recently, CIT began using Canpotex's new railcar maintenance facility in Saskatchewan to service CIT's railcars, further expanding their partnership. The arrangement helps Canpotex ensure reliable potash delivery to customers and improves railcar performance and maintenance.

1. CIT Rail:
Behind the Deal with Canpotex
About Canpotex:
Transaction Overview:
Canpotex is the world’s largest exporter
of potash and is an international
marketing and logistics company that
sells and delivers Saskatchewan potash
to offshore customers. Canpotex is
wholly owned by Saskatchewan’s potash
producers: Agrium Inc., The Mosaic
Company, and Potash Corporation of
Saskatchewan Inc. Canpotex leases
approximately 2,000 covered hopper
railcars from CIT to transport potash
from Saskatchewan’s mine sites through
to port facilities primarily in Vancouver,
British Columbia and Portland, Oregon.
Canpotex Limited (Canpotex) and CIT Rail (CIT) have been strategic partners since 2007
when CIT leased covered hopper railcars under a long-term lease to Canpotex for exporting
potash. This first transaction was the start of a strong partnership between the two companies
and CIT is currently Canpotex’s largest railcar supplier.
In December 2012, Canpotex completed construction of a new world-class railcar maintenance
and staging facility located 12 kilometers southwest of Lanigan, Saskatchewan. The
maintenance facility provides all-weather inspection and light repair, automated railcar wash,
and wheel maintenance services for Canpotex’s dedicated railcar fleet. Recently, CIT Rail
began using the Saskatchewan repair facility for maintenance and servicing of its railcars
leased to Canpotex, further expanding the partnership and providing Canpotex with more
efficient and timely maintenance services.
“We consider CIT Rail to be integral to Canpotex’s rail operations and a strategic and reliable
supplier for our business. Our partnership with CIT helps to ensure that we provide timely
delivery to our customers in peak periods of demand, and to secure our reputation as a reliable
supplier of potash,” said Scott Rudderham, Senior Vice President, Operations, Canpotex
Solution/Results:
By using the new railcar facility, CIT realized an opportunity to help Canpotex improve
efficiencies through enhanced railcar performance, standardized maintenance schedules and
reduced out-of-service time.
George Cashman, President, CIT Rail, said “Canpotex is a world-class exporter of potash to
the world markets and CIT Rail has enjoyed a continued and growing partnership with Canpotex
in both railcar leasing and in the support of the new railcar maintenance and staging facility.
We appreciate the business opportunity Canpotex provides and look forward to building on
our relationship for years to come.”
CIT Rail leverages deep experience and one of the youngest, most diversified railcar and locomotive fleets in the industry.
Our company has a long-standing commitment to providing attractive railcar leasing solutions to rail shippers and
carriers. Our solutions free up capital for your growth priorities, increase efficiencies and reduce out-of-service time.
More information at www.citrail.com or email CITRailMail@cit.com
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