Greenbrier (GBX) Enters Management Agreement with Statoil (STO)

Greenbrier Cos. (NYSE: GBX) has been selected by leading energy provider Statoil Marketing and Trading (US), Inc. (NYSE: STO) to deliver comprehensive railcar management and maintenance solutions for Statoil's fleet of more than 1,000 tank cars.

The cars will ship crude oil by rail out of the Bakken formation, underlying parts of Montana, North Dakota, and Saskatchewan. Greenbrier's proprietary Enspire© fleet management software platform and industry-leading maintenance and repair capability will maximize Statoil's productivity and increase velocity across its fleet. Leveraging its integrated business model, Greenbrier will design and implement the fleet maintenance program, including cost underwriting, while select Greenbrier Rail Service facilities will provide preferred turn times and on-demand solutions for empty cars, wheels, and component parts.

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