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The Greenbrier Cos. recently reached an agreement to acquire the operating assets of American Allied Railway Equipment Co. and its subsidiaries for $83 million in cash. The deal is subject to customary closing conditions and approvals.

American Allied Railway and subsidiaries American Allied Freight Car Co. Inc. and American Allied Railway Equipment Co., South L.L.C. supply new and reconditioned wheelsets to freight-car maintenance shops and car manufacturing plants, and reconditions rail-car yokes, couplers, side frames and bolsters.

"In today's market, customers require a seamless shop network with broad geographic coverage, close proximity to their operations and consistently high quality of service," said Greenbrier President and Chief Executive Officer William Furman in a prepared statement. "American Allied's shops complement our current network very well and help us fulfill this need [by giving us] more capacity in the higher demand central U.S. region and expanding our geographic coverage in the southeast, where we have had difficulty meeting customer needs."

With the addition of American Allied's three car facilities, Greenbrier's shop network will include 38 U.S. and Mexican car facilities, 12 wheel shops, 21 repair and refurbishment shops, and five replacement parts facilities.