Wednesday, March 27, 2013

Greenbrier Cos. touts new orders for 5,400 railcars

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Lake Oswego, Ore.-based The Greenbrier Companies, Inc. late Wednesday said it received new orders in January, February, and March for 5,400 railcar units valued at approximately $575 million.

"These orders are broad-based across a range of railcar types including automotive-related rail products, tank cars, double-stack intermodal platforms, boxcars and various types of covered hopper cars," the company said.

Orders included nearly 2,700 of Greenbrier's higher margin tank cars. Greenbrier also received orders for more than 700 automotive-related rail products, including 89-foot flatcars and the company's proprietary Multi-Max™ auto racks in North America, and for open and closed car carriers in Europe. The remaining orders are for double-stack intermodal platforms, boxcars, mill gondola cars, and covered hopper cars, including an initial order for the company's new plastic pellet car.

The new orders are in addition to the orders for 4,200 railcars valued at $430 million reported by Greenbrier on Jan. 7, 2013

President and CEO William A. Furman said, "Our railcar manufacturing strategy is to diversify our new railcar product offerings, to reduce reliance on a single commodity or railcar type at any given time and to benefit from growth in demand for various railcar types, including tank cars, frac sand cars, and plastic pellet cars for the rapidly expanding North American energy and chemicals markets.

"This strategy continues to bear fruit. As these orders demonstrate, we are able to flexibly and nimbly respond to emerging trends and to our customers' varied railcar needs with a flexible and geographically diverse manufacturing footprint."

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