New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
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."
News For GBX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
March 19, 2015
08:28 EDTGBXGreenbrier order flow impressive, says Sterne Agee
After Greenbrier announced yesterday that it received 10.1K orders in the February quarter, Sterne Agee says that the company's strong order flow is especially impressive since it likely excludes much of the effect of crude by rail tank orders related to the new tank car standards expected in May. The firm says that Greenbrier's backlog now essentially covers about two years worth of deliveries. It keeps an $84 price target and Buy rating on the shares.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use