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GMXT increases its rail cars by 27%

GMexico Transportes (GMXT) recorded a 27.1% year-on-year growth in 2023 in the number of its rail cars, to 36,207 units.

A subsidiary of Grupo México, GMXT operates Mexico‘s largest rail network with 11,017 km of track.

To this end, the company employed 11,099 people at the end of 2023, an increase of 4% year-on-year.

Its 800 locomotives transport goods in 24 Mexican states.

Since GMXT began operating the railroad in 1998 it nearly tripled its freight capacity and ton kilometers transported.

GMXT

While its main suppliers of rail cars are Trinity Industries and Greenbrier, its major locomotive suppliers are Wabtec and Progress Rail Locomotive.

GMexico Transportes’ subsidiaries are: 

  • Ferrocarril Mexicano, S. A. de C. V. (Ferromex).
  • Ferrosur, S. A. de C. V. (Ferrosur).
  • Texas Pacifico Transportation, LTD. (TXP). 
  • Florida East Coast (FEC).
  • Intermodal Mexico, S. A. de C. V. (IMEX).

From 2022 to 2023, GMexico Transportes’ service revenues increased 3.4% to Ps. 56.429 billion.

At the same time, its net profits fell 12.9% to Ps. 8.567 billion in the same comparison.

Grupo Mexico

Grupo Mexico’s largest shareholder is EIM, a Mexican corporation. 

What is its core business? EIM acts as a holding company for shares of other corporations engaged in a variety of businesses including mining, construction, railroads, real estate and drilling. 

The Larrea family, including Mr. Germán Larrea, directly controls a majority of the capital stock of EIM and directly and indirectly controls a majority of the voting stock of Grupo México.

Other GMXT suppliers

GMXT specializes in developing logistics solutions for the land transportation of basic inputs and/or finished goods either in rail cars or containers for the different markets in which it participates, domestic and international. 

GMXT divides its business portfolio into nine sub-segments: agricultural, intermodal, minerals, automotive, chemical, energy, industrial, metallurgical and cement.

Its main suppliers of track machinery and car parts are: Plasser & Theurer, Nordco, Harsco, Wabtec, Amsted and Brandt. 

The company also purchases the majority of its rail from Steel Dynamics, Inc. and EVRAZ Rocky Mountain Steel, companies that meet its requirements and specifications.