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Greenbrier lands $575M in rail car orders

Keywords: Tags  Greenbrier, rail cars, rail, transportation, American Railcar Industries, William Furman, Carl Icahn, Frank Haflich


LOS ANGELES — Greenbrier Cos. has received orders for 5,400 rail cars worth $575 million, the manufacturer said this week, bringing to 9,600 the total number of rail car orders the company has received since Sept. 1.

Included in the latest round of orders are nearly 2,700 tank cars for the energy and industrial chemical markets, which the Lake Oswego, Ore.-based company has described as having comparatively higher profit margins.

The new orders also include more than 700 automotive-related rail cars, including 89-foot flatcars with the company’s proprietary auto racks. The remaining orders are for double-stack intermodal platforms, box cars, mill gondola cars and covered hopper cars, including an initial order for the company’s new plastic pellet car.

Greenbrier didn’t say whether it will adjust its financial outlook in light of the latest development. Earlier this year, Greenbrier predicted that deliveries in fiscal 2013 would fall 20 percent from the 15,000 cars delivered in fiscal 2012 (amm.com, Jan. 11).

Greenbrier has been emphasizing what it says is the growing diversity of its order book. President and chief executive officer William A. Furman stressed that Greenbrier’s strategy is to "diversify our new rail car product offering to reduce reliance on a single commodity or rail car type."

Late last year, Greenbrier beat back a takeover attempt by rival builder American Railcar Industries Inc., St. Charles, Mo., which is owned by billionaire investor Carl Icahn (amm.com, Dec. 28).


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