railcar manufacturer

Greenbrier forges railcar leasing joint venture with Longwood

A photograph of a worker melding equipment. Sparks of fire are coming from the equipment.

Oregon-based railcar manufacturer Greenbrier (NYSE: GBX) is forming a joint venture with transportation asset management firm The Longwood Group to lease railcars produced by Greenbrier.

The venture will be named GBX Leasing. Its formation and funding are anticipated to occur in the first quarter of this year.

Each year, GBX Leasing will acquire roughly $200 million of newly built and leased railcars from Greenbrier. Greenbrier will own about 85% of GBX Leasing; Longwood will own the remainder....

https://www.freightwaves.com/news/greenbrier-forges-railcar-leasing-joint-venture-with-longwood

Greenbrier pins hopes on market recovery later this year

A photograph of a train consisting of hopper cars.

Railcar manufacturer Greenbrier (NYSE: GBX) is eyeing a potential market recovery in the second half of 2021, provided that the COVID-19 pandemic doesn’t become worse.

The Oregon-headquartered company shared its outlook as it announced that it sustained a net loss of $10 million, or 30 cents per diluted share, in its fiscal-year first quarter that ended on Nov. 30 (see below).

“Greenbrier’s operating footprint is well suited for the market recovery, expected in the second half of calendar 2021....

https://s29755.pcdn.co/news/greenbrier-pins-hopes-on-market-recovery-later-this-year

Rail Roundup: Lineage, Patriot make acquisitions; CP, CN set records

A photograph of a warehouse with five trucks parked next to it.

From acquisition updates to grain loadings, here’s a roundup of some recent rail-related news:

Lineage acquires refrigerated railcar producer

Lineage Logistics, a Michigan-based temperature-controlled real estate investment trust and logistics solutions provider, has acquired Maryland-based Cryo-Trans, a producer of refrigerated and insulated railcars.

Terms of the transaction weren’t disclosed, but Lineage said the acquisition “creates a unique comprehensive and seamlessly integrated supply chain...

https://s29755.pcdn.co/news/rail-roundup-lineage-patriot-make-acquisitions-cp-cn-set-records

Greenbrier expects mid-2021 recovery

A photograph of tank cars parked inside a garage.

The second half of 2021 could be the time frame when the rail industry will “turn the corner” and see not only sustained higher volumes but also more opportunities for railcar lessors and manufacturers, executives with railcar manufacturer Greenbrier (NYSE: GBX) said Friday.

This turnaround will happen provided that the broader economy recovers successfully from the COVID-19 pandemic.

“Economic uncertainty persists across all our end markets, but there are pockets of recovery if longer-term...

https://www.freightwaves.com/news/greenbrier-expects-mid-2021-recovery

Bipartisan legislators unveil bill aimed at helping railcar manufacturers

A photograph of a train of boxcars traveling through a desert-like field. There is a mountain range in the background.

A bipartisan group of congressional legislators has introduced a bill that would provide a temporary tax credit to railcar manufacturers that have been hit hard by pandemic-induced, adverse market conditions.

The Freight Rail Assistance & Investment to Launch Coronavirus-era Activity & Recovery Act, or Freight RAILCAR Act, seeks to provide a 50% tax credit for new railcars or for the modification of existing railcars to help offset costs, according to the representatives. The tax credit would...

https://s29755.pcdn.co/news/bipartisan-legislators-unveil-bill-aimed-at-helping-railcar-manufacturers

FreightCar America sees “pockets of opportunity”

A photograph of two railcars at a rail yard.

FreightCar America (NYSE: RAIL) anticipates improving market conditions in the second half of 2020 as it seeks to crawl out from under the pandemic-induced headwinds of 2020’s first six months.

“I think you’re going to see an increase of some activity…across the industry” in the next several quarters, said FreightCar America President and CEO Jim Meyer during the company’s second-quarter earnings call on August 11. “We anticipate converting a number of these inquiries into orders without getting...

https://s29755.pcdn.co/news/freightcar-america-sees-pockets-of-opportunity

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