August 5, 2024Sojitz Acquires Full Ownership of U.S. Railcar Repair Company– Expanding Sojitz Group’s Railcar Repair Network in North America –Sojitz Corporation (“Sojitz”) has acquired full ownership of Washamerica Inc. (Head Office: Texas, U.S.;
Brand Name: BW Services; “BWS”) through Sojitz Corporation of America, a fully owned subsidiary ofSojitz. BWS is a U.S. company that operates a railcar repair business.*1 Sojitz has an establishedpresence in the railcar repair business in Canada and is expanding its repair network into the SouthernU.S. through this acquisition of BWS.

Established in 1967, BWS provides repair and qualification services for tank cars under the “BWServices” brand, serving a customer base consisting primarily of major U.S. oil companies. BWS’s main
facility is located in Texas, the U.S. state with the longest rail network by mileage, and is adjacent to thelarge-scale rail terminal owned by Union Pacific, one of the Class I railroads. BWS has established astrong customer base by providing short turnaround time and high-quality services to its customers andis continuing to grow its business operations.

［BWS facility in Texas］

In North America, one of the world’s largest freight rail markets, rail-based transport serves as essential

logistics infrastructure supporting both the economy and society, with rail transportation comprising up
to 20% of all freight transport in the U.S.* 2 In the freight transport market, tank cars account forapproximately 30% (440,000 cars) of all railcars in operation. Tank cars are used mainly to transportchemicals and flammable commodities such as liquefied petroleum gas, and it is expected that the total
volume of tank car transport will grow over the medium- to long-term. With roughly one-tenth of thecarbon footprint of trucks, rail-based freight transport will contribute to the realization of a decarbonizedsociety, and the market is anticipated to expand alongside the growth in volume of rail-based freighttransport.

Sojitz Group has over 60 years of experience in the rail industry. Sojitz has identified the rail businessin North America as a key focus area and has been actively expanding its business through a range ofinvestments. In 2015, Sojitz became the first Japanese company to enter the North American rollingstock maintenance, repair, and overhaul (“MRO”) business through its investment in Cad RailwayIndustries Ltd. (Head Office: Quebec, Canada; “CadRI”). Sojitz further expanded its business operationsin 2017 through acquisition of Caltrax Inc. (Head Office: Alberta, Canada; “Caltrax”), a company offering
railcar repair services in Western Canada. In 2021, Sojitz acquired 100% ownership interest inSouthwest Rail Industries Inc. (Head Office: Texas, U.S.; “SRI”), a company that operates a railcar
leasing business.*3

Moving forward, Sojitz Group will continue to pursue synergy in its railcar repair and leasing businesses
in North America as the company strives to implement the 3 Rs (Reduce, Reuse, Recycle) and work
towards reducing environmental impact and realizing a recycling-oriented society.

*1: Railcar repair business provides repair work conducted to maintain the safety and functionality of railcars, and qualification
work required for tank cars every 10 years by law.
*2: Percentage based on ton-miles (distance multiplied by weight).
Source: United States Bureau of Transportation Statics, Transportation Statistics Annual Report 2023 (https://www.bts.gov/tsar)*3: Railcar leasing: The lease of freight railcars to cargo holders such as shippers and freight railroad operators.

[Related Information][Company Overview – Washamerica Inc.]
Established1967

LocationAngleton, Texas, U.S.

Representative
Billy White
Director
Main Business

Tank car repair services primarily for major U.S. oil companies[Related News Releases]
March 10, 2021
Sojitz Group Acquires a 100% Ownership Interest in a Railcar Leasing Company in North America

March 25, 2024
Sojitz Group Awarded One of the World’s Largest Commuter Railcar MRO Projects in Toronto, Canada

Contact: Sojitz Corporation

双日株式会社 広報部

Public Relations Dept.

+81-3-6871-3404

東京都千代田区内幸町 2-1-1 TEL:03-6871-3404 hodo@sojitz.com