A UTLX tank car passes westbound through Rochelle Railroad Park in Rochelle, Illinois on May 29, 2005.

Union Tank Car Company or UTLX is a railway equipment leasing, rail car maintenance, and rail car manufacturing company headquartered in metro Chicago, Illinois. A direct descendant of Standard Oil, the firm today is owned by Berkshire Hathaway.[1][2]

Union Tank Car Company was founded in 1866 by Captain Jacob J. Vandergrift, in response to the economic activities of John D. Rockefeller in the years leading up to his creation of Standard Oil. Vandergrift was involved in the conflicts in the oil regions of Western Pennsylvania in the 1860s–1870s. Eventually, Union Tank Car Company and Vandergrift's other holdings, which included pipeline and riverboat transport companies, merged with the company that later became Standard Oil. Rockefeller, once Captain Vandergrift's nemesis, made him Vice President of Standard Oil. The town of Vandergrift, Pennsylvania, built in 1895 by steel company president George G. McMurtry to house his workers, was named in Vandergrift's honor.

TransUnion was formed as a holding company in 1968 to hold Union Tank Car Company. TransUnion soon began acquiring credit information and information management companies as a second major investment. The Marmon Group acquired TransUnion in 1981, spinning off the TransUnion name and the financial portion of the holding company to Madison Dearborn Partners in the 1990s. Union Tank Car Company is still owned by Marmon, which in turn is now a 100% owned subsidiary of Berkshire Hathaway.

See also

  • Procor - Canadian subsidiary of Union Tank Car

References

  1. ↑ "A Union Tank Line railroad tank car that once carried oil for a subsidiary of the Standard Oil Company, displayed at the Mid-Continent Railway Museum, an outdoor, "living museum" and operating railroad that has (as of 2016) operated since 1963 in North Freedom, Wisconsin". Library of Congress, Washington, D.C. 20540 USA. Retrieved 2022-10-12.
  2. ↑ "Rail News - Buffett's Berkshire Hathaway to acquire major stake in Union Tank Car owner Marmon Holdings. For Railroad Career Professionals". Progressive Railroading. Retrieved 2022-10-12.
  • UTLX corporate site
  • Chicago History thumbnail
  • Victorian Vandergrift Museum and Historical Society site
  • Alle-Kiski Today (Western Pennsylvania regional magazine)
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.