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Greenbrier orders more than 10,000 railcars
Published: Tue, 2015-03-24 15:54-
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Valued at $1.09 billion
The Greenbrier Companies recently announced that it received new orders in its second quarter ended February 28, 2015 for 10,100 railcar units valued at $1.09 billion. Orders for the quarter include double stack intermodal cars, covered hopper cars primarily for grain transportation, refrigerated and insulated boxcars, gondolas and tank cars, both for transportation of crude oil and other commodity types.
William A. Furman, Chairman and CEO said, "Our strategy to diversify our product offerings, invest in efficient, flexible and lower cost facilities, and to drive more volume through our lease syndication and asset management business continues to pay off. Since the beginning of our fiscal year on September 1, 2014, we have received orders for 24,200 new railcar units valued at $2.33 billion, across multiple railcar types. Deliveries will extend beyond calendar 2016, with nearly 80% of these orders for railcars that serve non-energy related markets. Recent orders include a significant multi-year order, a testament to the positive outlook and strong industry fundamentals for the foreseeable future."
"We anticipate the regulatory picture for tank cars transporting hazardous materials will be clarified with final US and Canadian government actions to occur no later than mid-May," Furman said. "We expect Greenbrier's Tank Car of the Future will be adopted as the new standard and an additional wave of new tank car orders and tank car retrofits will occur, regardless of oil prices."
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