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Greenbrier Gets $285M Railcar Order

Thu, 08/04/2011 - 9:07am

LAKE OSWEGO, Ore. (AP) — The Greenbrier Cos. said Thursday it has received orders for 3,700 new railcars valued at about $285 million.

The orders are primarily for double-stack intermodal cars, boxcars, covered hopper cars and tank cars for North America and various car types for the European market. The platforms are expected to be delivered next year.

Double-stack trains are becoming more widespread as railroads work to improve efficiency. The trains allow them to carry double the freight with the same crew. They're especially popular in the shipment of container goods, like retail items from overseas that are moved between a ship or truck and a train. Movement between two methods of transport is called intermodal — a shipping method that's also being used much more often since the recession because it's more fuel efficient.

Hopper cars are used to move bulk goods like coal, iron ore and grain. Tank cars moves liquids like oil and natural gas.

Greenbrier's orders were received in June and July. The company has received orders for over 18,000 units since the beginning of its fiscal year on Sept. 1.

Greenbrier opened a new railcar production line in July and expects to open another in the first quarter of fiscal 2012, in order to accommodate the increased demand in North America.

Greenbrier shares slipped 6 cents $17.25 in morning trading Thursday.

 

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