Greenbrier receives orders for 10,100 rail cars

In the second quarter of its fiscal year ended Feb. 28, the Greenbrier Cos. received orders for 10,100 rail cars valued at $1.09 billion, the company announced today.

The orders comprise a variety of units, including double-stack intermodal cars, covered hopper cars for grain, refrigerated and insulated boxcars, and gondolas and tank cars for crude oil and other commodities. The orders also include 3,500 units valued at $400 million received in December 2014.

"We anticipate the regulatory picture for tank cars transporting hazardous materials will be clarified with final U.S. and Canadian government actions to occur no later than mid-May," said William Furman, chairman and chief executive officer of Greenbrier. "We expect Greenbrier's Tank Car of the Future will be adopted as the new standard and an additional wave of new tank car orders and tank car retrofits will occur, regardless of oil prices."

Since Sept. 1, 2014, the company has received orders for 24,200 rail cars valued at $2.33 billion, Furman said. The company expects deliveries to extend beyond the 2016 calendar year.