LAKE OSWEGO, Ore., Sept. 9, 2019 /PRNewswire/ -- The Greenbrier Companies, Inc. (NYSE:GBX) announced today the addition of a newly designed, covered hopper railcar to its broad line of railcar product offerings. Specifically made for grain, this covered hopper railcar introduces the Tsunami Gate, a state-of-the-art door and hatch system that permits shippers to customize the discharge speed of grain. The railcar has a capacity of 5,185 cubic feet and a 50' 6" length that is shorter than traditional models, allowing more railcars per fixed amount of track. Other design features include:
Peter Jones, Vice President of Engineering, said, "A shorter, higher-capacity covered hopper railcar with the Tsunami Gate is a long-awaited and highly valued product for grain shipping customers. The new design increases worker safety by automating the unloading process, and it optimizes space on the tracks. By shortening the length of traditional grain railcars by more than 5 feet, while maintaining the same cubic volume, the result is less fuel consumption, reduced greenhouse gas emissions and lower overall operating costs for our customers."
Greenbrier will unveil the new covered hopper railcar featuring Tsunami Gate at Railway Interchange 2019, September 22–25 in Minneapolis, Minnesota. Railway Interchange is the largest railway exhibition and technical conference in North America. The event, which is hosted by Railway Supply Institute and other leading railway-related associations, attracts more than 9,000 rail industry professionals from around the world. All visitors are invited to join Greenbrier:
Exhibition Venue: Minneapolis Convention Center, Booth 2918
Outdoor Venue: BNSF Northtown Railyard, Spot 412
Contact: Thomas Jackson, Vice President
Email: tom.jackson@gbrx.com Phone: 503-684-7000
Greenbrier leadership team members are also scheduled to speak at several forums during the event, including:
Furman said, "I am pleased to join the excitement at Railway Interchange. Greenbrier will be well-represented throughout the conference. Lorie Tekorius is a trailblazer in the railway supply industry, and a role model for women in our industry and beyond. I look forward to her presentation to the League of Railway Women. Peter Jones is a premier engineer and I know attendees will benefit from his presentation of our technologically advanced covered hopper grain railcar with Tsunami Gate."
Furman added, "Greenbrier continues to gain momentum. In the last six months we have introduced new railcar designs, announced significant leadership advancements from within the company, and expanded our team through the successful, strategic combination with American Railcar Industries' railcar manufacturing business. We look forward to sharing more about our business at Railway Interchange 2019."
About Greenbrier
Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Greenbrier designs, builds and markets freight railcars and marine barges in North America. Greenbrier Europe is an end-to-end freight railcar manufacturing, engineering and repair business with operations in Poland, Romania and Turkey that serves customers across Europe and in the nations of the Gulf Cooperation Council. Greenbrier builds freight railcars and rail castings in Brazil through two separate strategic partnerships. We are a leading provider of freight railcar wheel services, parts, repair, refurbishment and retrofitting services in North America through our wheels, repair & parts business unit. Greenbrier offers railcar management, regulatory compliance services and leasing services to railroads and related transportation industries in North America. Through unconsolidated joint ventures, we produce industrial and rail castings, tank heads and other components. Greenbrier owns a lease fleet of 8,900 railcars and performs management services for 374,000 railcars. Learn more about Greenbrier at www.gbrx.com.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: This press release may contain forward-looking statements, including any statements that are not purely statements of historical fact. Greenbrier uses words such as "affirms," "anticipates," "believes," "forecast," "potential," "goal," "contemplates," "expects," "intends," "plans," "projects," "hopes," "seeks," "estimates," "strategy," "could," "would," "should," "likely," "will," "may," "can, "designed to," "future," "foreseeable future" and similar expressions to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward-looking statements. Factors that might cause such a difference include, but are not limited to, reported backlog and awards that are not indicative of Greenbrier's financial results; uncertainty or changes in the credit markets and financial services industry; high levels of indebtedness and compliance with the terms of Greenbrier's indebtedness; write-downs of goodwill, intangibles and other assets in future periods; sufficient availability of borrowing capacity; fluctuations in demand for newly manufactured railcars or failure to obtain orders as anticipated in developing forecasts; loss of one or more significant customers; customer payment defaults or related issues; policies and priorities of the federal government regarding international trade, taxation and infrastructure; sovereign risk to contracts, exchange rates or property rights; actual future costs and the availability of materials and a trained workforce; failure to design or manufacture new products or technologies or to achieve certification or market acceptance of new products or technologies; steel or specialty component price fluctuations and availability and scrap surcharges; changes in product mix and the mix between segments; labor disputes, energy shortages or operating difficulties that might disrupt manufacturing operations or the flow of cargo; production difficulties and product delivery delays as a result of, among other matters, costs or inefficiencies associated with expansion, start-up, or changing of production lines or changes in production rates, changing technologies, transfer of production between facilities or non-performance of alliance partners, subcontractors or suppliers; ability to obtain suitable contracts for the sale of leased equipment and risks related to car hire and residual values; integration of current or future acquisitions and establishment of joint ventures; succession planning; discovery of defects in railcars or services resulting in increased warranty costs or litigation; physical damage or product or service liability claims that exceed Greenbrier's insurance coverage; train derailments or other accidents or claims that could subject Greenbrier to legal claims; actions or inactions by various regulatory agencies including potential environmental remediation obligations or changing tank car or other railcar or railroad regulation; and issues arising from investigations of whistleblower complaints; all as may be discussed in more detail under the headings "Risk Factors" and "Forward Looking Statements" in Greenbrier's Annual Report on Form 10-K for the fiscal year ended August 31, 2018, Greenbrier's Quarterly Report on Form 10-Q for the fiscal quarter ended May 31, 2019, and Greenbrier's other reports on file with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date hereof. Except as otherwise required by law, Greenbrier does not assume any obligation to update any forward-looking statements.
SOURCE The Greenbrier Companies, Inc. (GBX)
