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Stock Market & Financial Investment News

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February 28, 2013
17:06 EDTGBX, TKRGreenbrier sells wheelset roller bearing reconditioning business to Timken
The Greenbrier Companies (GBX) announced it has entered an asset purchase agreement with The Timken Company (TKR) for sale of substantially all the equipment utilized in Greenbrier's reconditioned wheelset roller bearing operations in Elizabethtown, Kentucky. Concurrent with the sale, Greenbrier will enter into a long-term supply agreement with Timken for reconditioned and new bearings. The companies did not disclose the asset purchase price. Closing of the transaction is expected before the conclusion of Greenbrier's Q3 ending May 31.
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