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Stock Market & Financial Investment News

News Breaks
January 8, 2013
05:14 EDTGBXGreenbrier announces over $430M in new railcar orders since September 1
The Greenbrier Companies announced it is meeting demand for new railcars in North American and European markets with orders for over 4,200 units valued at over $430M since the start of its current fiscal year which began on September 1. Continued strength in North American shale energy markets generated orders for 1,250 of Greenbrier's higher margin tank cars with a value of approximately $160M. While Greenbrier has aggressively ramped tank car production over the last year in response to strong demand, order activity in the current fiscal year is diversified across a broad range of railcar types, with current tank car orders representing only 30 percent of all new business since September 1. Greenbrier has also received orders in North America and Europe for 1,400 automotive-related products valued at $140M. In North America, the company has received orders for nearly 1,000 automotive racks. Orders for 89-foot flatcars to support the rack deliveries are anticipated later in the fiscal year. In Europe, the company has received orders for more than 400 automotive-related railcars.
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July 23, 2014
15:28 EDTGBXGreenbrier says prepared for tank-car retrofits required by DoT
The Greenbrier Companies responded to the U.S. Department of Transportation's proposed rulemaking on the safe movement of flammable liquids by rail, including crude oil and ethanol. While Greenbrier is examining the details of the proposed rulemaking and will provide full comments at a later date, Jack Isselmann, VP External Affairs and Communications today made the following statement: "Greenbrier is pleased that Secretary Foxx recognizes the urgency of completing this rulemaking and we commend his stated intention to issue a rule in the next 60 days. A final rule will provide the clarity the industry needs to make investments that ensure that crude oil and other flammable commodities are classified properly and transported in tank cars that are safer at any speed. We are also gratified that two of the three alternate new design standards proposed by the Department call for a 9/16-inch thick steel shell, a safety feature that Greenbrier has consistently championed with our next generation 'Tank Car of the Future' design. This design can better withstand the additional demands associated with operating unit trains like the high-hazard flammable trains identified today by the Department. A two-year timetable for phasing out the use of older DOT-111 cars in the most hazardous flammable service is aggressive, but can be achieved through a combination of increased new tank car production and appropriate retrofit packages for tank cars that meet a more robust safety standard. Greenbrier is prepared to meet the need for tank car retrofits with our newly-launched joint venture for railcar repair and retrofitting, GBW Railcar Services."
11:18 EDTGBXDoT proposes phase out of older DOT 111 tank cars for certain flammable liquids
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