Finance/Leasing

Greenbrier acquiring ARI

In a transaction valued at $400 million, the Greenbrier Companies, Inc. (GBRX) has entered into an agreement to acquire the manufacturing business of American Railcar Industries (ARI) from ITE Management LP (ITE), the hedge fund that bought ARI from investor Carl Icahn in December 2018. GBX said the result will be “a larger U.S. railcar manufacturing footprint, adding ARI’s two manufacturing facilities in Arkansas. It will employ more U.S. workers at cost-competitive and flexible facilities, with a more-efficient delivery model throughout North America, due to lower transportation costs.”

Rail freight traffic: What’s going on here?

We traditionally have reported the Association of American Railroads weekly compilation of freight traffic statistics as “straight news,” with commentary restricted to what the AAR may include in the release, which is rare. In this case, there’s a lot going on here, enough to warrant some analysis. The figures are all here, along with supporting charts. But don’t take them at face value.

Matt Rose at REF 2019: It’s about growth—not cutting

RAIL EQUIPMENT FINANCE 2019, LA QUINTA, CALIF, March 5: BNSF Executive Chairman Matt Rose, nearing retirement, shared his views on the rail industry with Railway Age Editor-in-Chief William C. Vantuono and more than 400 attendees at Railroad Financial Corporation’s annual conference, organized by RFC President and Railway Age Financial Editor David Nahass and his staff. Rose talked extensively about Precision Scheduled Railroading (PSR), business growth, advanced technology and other topics.

Wabtec completes GE merger, posts strong financials

Wabtec Corporation has completed its merger with GE Transportation. The combined company, which is expected to boast revenues greater than $8 billion in 2019, has a compelling growth profile—especially as market conditions improve in its industries. Wabtec announced the transaction completion at the same time as its 4Q18 and full-year 2018 financials.

Trinity 4Q18: Orders, backlog grow

Trinity Industries, Inc., in announcing financial results for the fourth quarter and full year ended Dec. 31, 2018, reported that its Rail Products Group posted railcar orders and deliveries of 8,045 and 5,285, respectively, during the fourth quarter, compared to orders and deliveries of 3,180 and 6,150, respectively, during the same period last year. The railcar backlog at year’s end stood at $3.6 billion, compared to $2.2 billion on Dec. 31, 2017.

Simmons-Boardman Rail Group named Railway Interchange media partner

Railway Interchange, the largest exhibition and technical conference in North America, on Feb. 20 announced that Simmons-Boardman Rail Group, publisher of Railway Age, Railway Track & Structures (RT&S) and International Railway Journal (IRJ), is the official media partner for 2019. Railway Interchange is scheduled on Sunday, Sept. 22 through Wednesday, Sept. 25 at the Minneapolis Convention Center, Minneapolis, Minn.