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Stock Market & Financial Investment News

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March 3, 2014
06:18 EDTGBXGreenbrier announces orders for 5,600 new railcars valued at $460M
Greenbrier announced that it received new orders in Q2 ended February 28 for 5,600 railcar units valued at approximately $460M. These orders include a recent award for 1,200 intermodal platforms. Other orders include small cube covered hoppers and tank cars used in the energy sector, automotive-related products, medium and large cube covered hopper cars for the grain and plastic pellet markets, boxcars for paper and forest products markets, and gondola cars for metal and scrap. Current downward trends in railroad train velocity are expected to lead to stronger demand for certain railcar types in the future. The orders announced today include 1,100 units valued at approximately $130M received in December 2013 and first reported in Greenbrier's press release dated January 8, 2014. Since September 1, 2013, the beginning of the company's fiscal year, Greenbrier has received orders for nearly 8,200 railcars in North America and Europe valued at over $690M.
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