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Greenbrier acquires Rail Car America's repair shops, short line


Today, The Greenbrier Cos. announced it acquired most of Rail Car America Inc.’s (RCA) operating assets for about $34 million in cash. The transaction includes RCA’s car repair shops, American Hydraulics (AH) division and Brandon Corp., a switching and terminal railroad.

RCA offers intermodal and conventional rail-car repair services at four U.S. shops; AH provides end-of-car cushioning unit reconditioning and repair services; and Brandon Corp. operates 17.3 track miles in Omaha, Neb.

Greenbrier’s Rail Services division now will operate 23 car repair and wheel shops in North America and generate about $160 million in revenue annually, the company said. Greenbrier also builds freight cars in the United States, Canada and Mexico; builds and refurbishes cars in Europe; owns a fleet of 9,000 rail cars; and manages about 135,000 cars.

“The RCA acquisition will … enhance our intermodal leadership position and expand the geographic reach of our repair network,” said Greenbrier President and Chief Executive Officer William Furman in a prepared statement. “In addition, AH is one of only two companies in North America that repairs and reconditions end-of-car cushioning units used in box cars and a variety of flat cars.”

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More News from 9/12/2006