LOS ANGELES Greenbrier
Cos. has received orders for 5,400 rail cars worth $575
million, the manufacturer said this week, bringing to 9,600 the
total number of rail car orders the company has received since
Included in the latest round of
orders are nearly 2,700 tank cars for the energy and industrial
chemical markets, which the Lake Oswego, Ore.-based company has
described as having comparatively higher profit margins.
The new orders also include more
than 700 automotive-related rail cars, including 89-foot
flatcars with the companys proprietary auto racks. The
remaining orders are for double-stack intermodal platforms, box
cars, mill gondola cars and covered hopper cars, including an
initial order for the companys new plastic pellet
Greenbrier didnt say
whether it will adjust its financial outlook in light of the
latest development. Earlier this year, Greenbrier predicted
that deliveries in fiscal 2013 would fall 20 percent from the
15,000 cars delivered in fiscal 2012 (
amm.com, Jan. 11).
Greenbrier has been emphasizing
what it says is the growing diversity of its order book.
President and chief executive officer William A. Furman
stressed that Greenbriers strategy is to "diversify our
new rail car product offering to reduce reliance on a single
commodity or rail car type."
Late last year, Greenbrier beat
back a takeover attempt by rival builder American Railcar
Industries Inc., St. Charles, Mo., which is owned by
billionaire investor Carl Icahn (
amm.com, Dec. 28).