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June 4, 2014
05:39 EDTGBXGreenbrier, Watco announce railcar repair JV GBW Railcar Services
Greenbrier announced a new company that will create a world-class network of railcar repair shops. The 50/50 joint venture forms GBW Railcar Services, which will own and operate Greenbrier's and Watco's respective railcar repair, refurbishment and maintenance businesses. GBW will have the scale to meet the certification and maintenance requirements of the growing North American tank car fleet and expand railcar repair service offerings for general freight cars of nearly all types. With current combined annual revenue of approximately $325M and a geographically diverse network of 38 facilities located across North America, GBW will employ more than 2,100 team members. GBW will be one of the largest independent railcar repair shop networks in North America ranked by number of locations and geographic diversity. GBW will be led by recent Greenbrier hire, Jim Cowan, as CEO.
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October 7, 2015
06:12 EDTGBXGreenbrier announces order from Saudi Railway Company for 1,200 railcars
Greenbrier announced that it received an order in Q4 from the government-owned Saudi Railway Company, or SAR, for approximately 1,200 railroad tank cars. Three types of tank cars will support industrial mining operations - led by the national mining company, Ma'aden - at Wa'ad al Shamal Industrial City in the Sirhan-Turaif region of northern Saudi Arabia. The tank cars will facilitate rail transportation of molten sulfur and phosphoric acid, products that are used in a range of industrial activities. Greenbrier will build the tank cars for SAR under U.S. supervision and management at its wholly-owned Wagony Swidnica subsidiary in Swidnica, Poland. Track dimensions in Saudi Arabia are identical to those in the United States, and the tank cars will be built to U.S. standards on production lines certified by the Association of American Railroads. Delivery of the first tank cars to SAR will begin in the second half of calendar year 2016, and will be completed in 2017 and 2018, depending on car type.
06:11 EDTGBXGreenbrier announces orders for 2,900 railcars valued at $470M
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06:09 EDTGBXGreenbrier expects to exceed FY15 EPS view of $5.70-$5.85, consensus $5.79
Greenbrier announced that it expects to exceed previously provided diluted EPS guidance of $5.70-$5.85, excluding non-recurring costs in Q3 of 16c per share, for FY15. These higher expectations are principally driven by increased margins in the company's manufacturing segment, which includes lease syndications and a lower than anticipated tax rate related to geographic mix of earnings.
October 1, 2015
09:36 EDTGBXRailcar sector downgraded to Negative from Mixed at OTR Global
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