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Today, The Greenbrier Cos. announced subsidiary Gunderson Rail Services acquired rail-car repair facilities in Dothan, Ala., and Hodge, La., from GE Rail Services. Terms weren’t disclosed.
As part of the acquisition agreement, GE will provide Gunderson Rail a minimum base load of car repair and service work at the two facilities during the next 10 years.
A car repair and wheel reconditioning service provider, Gunderson Rail plans to increase the shops’ manpower and service offerings. Greenbrier officials expect the facilities to generate about $10 million in annual revenue.
“The acquisition extends our geographic reach into new markets in the southeast, [and expands] our rail-car repair and refurbishment network to 16 locations across North America,” said Gunderson Rail President Tim Stuckey in a prepared statement. “It also positions Gunderson Rail to better serve customers through connections with the Norfolk Southern, CSX and KCS.”
3/21/2005
Rail News: M&A
Greenbrier's Gunderson acquires two rail-car repair shops from GE
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Today, The Greenbrier Cos. announced subsidiary Gunderson Rail Services acquired rail-car repair facilities in Dothan, Ala., and Hodge, La., from GE Rail Services. Terms weren’t disclosed.
As part of the acquisition agreement, GE will provide Gunderson Rail a minimum base load of car repair and service work at the two facilities during the next 10 years.
A car repair and wheel reconditioning service provider, Gunderson Rail plans to increase the shops’ manpower and service offerings. Greenbrier officials expect the facilities to generate about $10 million in annual revenue.
“The acquisition extends our geographic reach into new markets in the southeast, [and expands] our rail-car repair and refurbishment network to 16 locations across North America,” said Gunderson Rail President Tim Stuckey in a prepared statement. “It also positions Gunderson Rail to better serve customers through connections with the Norfolk Southern, CSX and KCS.”
