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11/10/2010



Rail News: Rail Industry Trends

Updates from Greenbrier, RailServe, Mallory Alexander International Logistics, Cryo-Trans and Spectrum Infrared


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• The Greenbrier Cos. reported fourth-fiscal-quarter revenue of $181.4 million, a 21.3 percent decrease compared with the same period in the prior fiscal year. For the quarter, which ended Aug. 31, the company posted net earnings of $7.7 million, a 26.2 percent hike compared with fourth-fiscal-quarter 2009's total. Greenbrier delivered 700 rail cars compared with 2,500 units in the fourth fiscal quarter of 2009. For the fiscal year, Greenbrier recorded revenue of $764 million, a 25 percent decline compared with revenue recorded during the prior fiscal year. The company posted net income of $4.3 million, compared with a net loss of $56.4 million in FY2009. Greenbrier delivered 2,500 rail cars in FY2010 compared with 3,700 units delivered in FY2009. As of Aug. 31, Greenbrier's rail-car manufacturing backlog was 5,300 units compared with 4,400 as of May 31. Since Aug. 31, Greenbrier has received orders for 3,200 units. "We are well positioned for the upturn, as rail traffic continues to improve and the economy continues to recover," President and Chief Executive Officer William Furman said in a prepared statement.

• RailServe Inc. sold its first Multi-GenSet Lower Emissions And Fuel Locomotive (LEAF) to Archer Daniels Midland Co. The LEAF is designed to "significantly" reduce emissions and minimize fuel usage while meeting U.S. Environmental Protection Agency Tier III 2015 emissions standards, according to a prepared statement.

• Mallory Alexander International Logistics acquired international freight forwarder Tradesource Inc. from Atlantic Services Group Inc. The new Mallory Alexander unit specializes in export ocean forwarding and customs house brokerage; additional services include truck brokerage, special project transportation and supply-chain consulting services.

• Cryo-Trans Inc. (CTI) was selected by McCain Foods USA to manage its refrigerated box-car fleet — which, after the addition of new 72-foot interior-length, state-of-the-art cars manufactured by CTI, will "exceed" 140 cars, according to a prepared statement.

• CN is using Spectrum Infrared's five-horsepower switch heaters at Victoria Bridge, which links the Class I's Montreal operations with its network in southeastern Quebec and Atlantic Canada. Spectrum Infrared is a division of A.D.S.


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