AITX Enters New Era of Growth; Launches European Railcar Services Platform

Welcomes Mahindhann Krishnapillai as Head of AITX Rail Europe

ST. LOUIS, May 2, 2023 /PRNewswire/ -- AITX, a leading provider of railcar services across freight transportation markets predominately in North America, today announced the launch of its European railcar platform. This new solution offers European manufacturers, operating lessors, and freight shippers access to a broad and growing set of resources, expertise, and partnerships across fleet management, leasing solutions, regulatory management, and maintenance operations. The Company will look to proactively expand its portfolio and partnerships centered around and focused on customer needs within the European railcar market.

With this launch, AITX welcomes Mahindhann Krishnapillai as Head of AITX Rail Europe. Based in Paris, France, Mr. Krishnapillai opens AITX's continental headquarters and will grow the capabilities to provide the level of service and solutions customers have grown to expect from AITX.

Mr. Krishnapillai is a European rail industry expert with over fifteen years focused operational and technical experience working across several of Europe's rail leasing and repair leaders. Most recently, at VTG France, Mr. Krishnapillai was Operations Director overseeing their fleet management and maintenance business for over 100 European freight shipping customers. Prior to that, he was Technical Director at CIT's full-service leasing platform, NACCO, where he grew revenue across 15,000 railcars, spanning sales, maintenance, ECM, and Safety. Earlier in his career, Mr. Krishnapillai demonstrated a steady ramp of increased responsibility and technical prowess as Head of Wagons Management & Maintenance at DB CARGO EuroCargoRail and several roles across engineering functions. He holds an Engineering Degree in Industrial Technology from Ecole Supérieure d'Ingénieurs Paris-Est Marne-la-Vallée (ESIPE) and a technical degree from University of Paris XIII.

Bolstering the AITX Rail Europe team, industry veteran, Dan DiStefano, is supporting the Europe platform as Operating Partner. Mr. DiStefano was President at CIT's NACCO for over five years overseeing all rail operations and growth, where he and Mr. Krishnapillai worked together. Most recently Mr. DiStefano has been EVP International Rail for ITE Management.

"With access to capital and in-depth rail industry expertise, we are excited to partner with European shippers to help them move goods and drive their business," said Texas Howard, President, AITX.

"We see Mahindhann as the perfect leader to help us achieve our goals in Europe. Not only does he have a depth of experience and established relationships in the European rail market, his commitment to operations, technical excellence, and safety is an immediate match to our core values. We are happy to welcome Mahindhann to AITX."

About AITX:
AITX is a leading service provider with solutions across leasing, repair, and railcar data.  AITX and its affiliates provide shipping customers across North America and Europe a broad and diverse railcar lease fleet of 60,000 plus railcars and an active new build program.  AITX's best-in-class twenty railcar repair facilities provide capabilities across full-service repair, mobile operations, onsite partnerships, and railcar storage.  For more information, please visit www.aitx.com.

Contacts:
AITX
Diana Gould
Director, Legal and Corporate Compliance
Phone:  636-940-6092
Email:  dgould@aitx.com

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