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Greenbrier (GBX) Reports Over $430M of New Orders Received FYTD

January 8, 2013 6:24 AM EST Send to a Friend
The Greenbrier Companies, Inc. (NYSE: GBX) announced today it is meeting robust demand for new railcars in North American and European markets with orders for over 4,200 units valued at over $430 million since the start of its current fiscal year which began on September 1, 2012.

Continued strength in North American shale energy markets generated orders for 1,250 of Greenbrier's higher margin tank cars with a value of approximately $160 million. While Greenbrier has aggressively ramped tank car production over the last year in response to strong demand, order activity in the current fiscal year is diversified across a broad range of railcar types, with current tank car orders representing only 30 percent of all new business since September 1, 2012.

Greenbrier has also received orders in North America and Europe for 1,400 automotive-related products valued at $140 million. In North America, the Company has received orders for nearly 1,000 automotive racks. Orders for 89-foot flatcars to support the rack deliveries are anticipated later in the fiscal year. In Europe, the Company has received orders for more than 400 automotive-related railcars.

Driven by a revitalized U.S. auto industry, automotive rail loadings in North America grew 13.9 percent in calendar 2012, according to the American Association of Railroads. Analyst projections indicate sustained year-over-year growth in U.S. auto sales through 2015.




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