American Railcar Industries is an American manufacturer and maintainer of hopper and tanker railcars, headquartered in Saint Charles, Missouri. Through its subsidiary American Railcar Leasing (ARL) it also leases railcars in the covered hopper and specialized tank car markets. In 2013 investor Carl Icahn owns a controlling interest in both companies. ARI was formed in 1994 as a subsidiary of ACF Industries (ACF)), which had been leasing railcars since 1923. s At that time ARI manufactured components for railcars, and also provided painting, repair and fleet management services. By 1999, the company was manufacturing both hopper and tanker cars. In 2004 ARI formed a subsidiary company, American Railcar Leasing. This new company in turn acquired, via a series of transfer transactions between the related companies, the railcars and related leases from ACF_Industries.