Greenbrier announces orders for 15,000 rail cars

In the fourth quarter ended Aug. 31, and through yesterday, the Greenbrier Companies Inc. has received new orders totaling 15,000 rail cars valued at $1.37 billion, the company announced this morning.

The orders comprise a broad range of rail-car types, including tank cars, small cube covered hoppers, medium cube covered hoppers, automotive cars and 3,100 double-stack intermodal units. The total number of rail-car orders includes an order placed in June for 2,700 rail cars valued at $320 million, which Greenbrier previously disclosed in July.

"These new orders demonstrate that our strategy to diversify our product mix, add efficient capacity in lower-cost facilities, and drive considerably more volume through our leasing and asset management model is paying off," said Greenbrier Chairman and Chief Executive Officer William Furman in a prepared statement.

The company's new rail-car product portfolio includes new products such as its Multi-Max™ automotive unit, large cube covered hoppers for the transport of commodities such as plastic pellets, pressurized tank cars, and its next-generation tank car, which features thicker steel, more robust top and bottom outlet protection, and jacketed shells with ceramic insulation, according to a press release. Greenbrier has received 3,500 orders for the tank car.

During the past year, the rail-car manufacturer has received orders for almost 39,000 rail cars in North America and Europe valued at $3.72 billion.

"Strong automotive, agricultural and energy markets, and a recovering intermodal market, are generating robust and broadening demand," Furman said.