FreightCar America, Inc. announced it has hired Dan Wallace, who will become the Vice President and General Manager, Leasing at FreightCar America.

Wallace has over 15 years of experience in all facets of railcar leasing. Most recently, he was the Vice President and Director of North American Rail Finance for City National Capital Finance and previously was with a private investment venture, Redwood Rail, as its Senior Vice President and Chief Financial Officer. The majority of Mr. Wallace's career was with General Electric Railcar Services as the Senior Vice President of Structured Finance and Business Development.

"We are very excited to have Dan join the FreightCar America team. Dan is a skilled transportation leasing executive with a demonstrated track record of success," said Jim Meyer, President and Chief Executive Officer of FreightCar America. "As we continue to expand the breadth of our railcar portfolio, taking a more traditional approach to leasing will allow us to better serve customers that wish to lease instead of own railcars. Putting in place a structure and making a more concentrated effort to provide our customers with a competitive leasing option is a natural extension of our business. Dan is the perfect person to lead this for us.

"While our core focus remains on manufacturing and selling best-in-class railcars, our leasing strategy will put us in a better position to compete for and build additional railcars, which has the opportunity to create additional value for our shareholders and business."

FreightCar America, Inc. manufactures a wide range of railroad freight cars, supplies railcar parts and leases freight cars through its JAIX Leasing Company subsidiary.