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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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