LAKE OSWEGO, Ore., April 28, 2016 /PRNewswire/ -- The Greenbrier
Companies, Inc. (NYSE:GBX) announced today that its Gunderson Marine division has received an order
from Harley Marine Services, Inc. to build two articulated
ocean-going barges. The order is for two 430' barges, each
with an 82,000 barrel carrying capacity. Gunderson most
recently delivered a barge to Harley
Marine in 2009. Construction on the barges will begin
by mid-2016, with delivery of both vessels scheduled to occur
during the second half of 2017.
Over the past nine months Greenbrier, through Gunderson Marine, delivered two 578' articulated
ocean-going barges for chemical and oil service. With the
current orders, Gunderson Marine is
responding to new barge demand for transporting refined products
across U.S. waterways from coastal refineries. Operating from
the largest side launch on the West Coast, Gunderson is the only
shipyard on the West Coast experienced in building large,
articulated tug barges.
"It is always rewarding to serve a repeat customer. We are
pleased that Harley Marine has again
sought to partner with Gunderson
Marine as its transportation solutions provider. The marine
order activity Greenbrier reports today demonstrates our commitment
to diversify our revenue base as our core North American railcar
markets transition over the course of this year and into 2017,"
said William A. Furman, Chairman and
CEO.
"At Harley Marine our priorities are the safety of our people,
environmental protection, customer service, and on-time
delivery. We know Gunderson
Marine shares these core values. We are pleased to
return to work with them on these important vessels and look
forward to extending our business relationship in the future," said
Harley Franco, Founder, Chairman,
Chief Executive Officer, and President.
Furman added, "We continue to identify growth opportunities
across our business segments by focusing aggressively on new
products and services. We are also extending our railcar
manufacturing business globally to reach geographically-diverse
customers who demand superior products from a proven, high-quality
manufacturer. With customers on four continents, our future
is bright and Greenbrier is a vastly different business than it was
a few short years ago."
About Greenbrier
Greenbrier (www.gbrx.com), headquartered in Lake Oswego, Oregon, is a leading supplier of
transportation equipment and services to the railroad industry.
Greenbrier builds new railroad freight cars in manufacturing
facilities in the U.S., Mexico and
Poland and marine barges at our
U.S. manufacturing facility. Greenbrier sells reconditioned wheel
sets and provides wheel services at locations throughout the U.S.
We recondition, manufacture and sell railcar parts at various U.S.
sites. Through GBW Railcar Services, LLC, a 50/50 joint venture
with Watco Companies, LLC, freight cars are repaired and
refurbished at over 30 locations across North America, including more than 10 tank car
repair and maintenance facilities certified by the Association of
American Railroads. Greenbrier owns a lease fleet of over 10,000
railcars and performs management services for over 250,000
railcars.
About Gunderson
Gunderson, a wholly-owned subsidiary of Greenbrier, through its
marine and railcar divisions, currently has about 1,200 total
employees with more than 300 workers dedicated to marine.
Located on 75 acres along the Willamette River in Portland, Oregon, Gunderson is accessible
year-round by ocean-going vessels and two transcontinental
railroads, Burlington Northern Santa Fe and Union Pacific.
Established in 1919 as a heavy steel fabricator, Gunderson has
been a ship and marine barge builder since 1942. It entered
the new freight railcar construction market in the early
1960s. Nearly 4,800 vessels have been built by Gunderson,
with focus on large ocean-going barges. About 300 such barges
have been built by Gunderson in recent years, including deck cargo
barges, hopper barges, roll-on/roll-off railcar barges, dump scows,
Panamax size vessels and double-hull oil barges. Operations
have expanded dramatically over the past decade with substantial
investment in facility enhancements and lean manufacturing
efficiencies.
About Harley Marine Services
Harley Marine Services is a leading provider of marine
transportation services in the United
States, with operations along the West Coast (including
Alaska and Hawaii), New York Harbor and the US Gulf
Coast. Services provided include the transportation and storage of
petroleum products, ship assist and escort, the transportation of
general cargo and rescue towing. Harley
Marine is dedicated to providing excellent customer service
and maintaining our obligations to employees, shareholders, our
community and the environment.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: This press release may contain
forward-looking statements, including statements regarding expected
new railcar production volumes and schedules, expected customer
demand for the Company's products and services, plans to adjust
manufacturing capacity, restructuring plans, new railcar delivery
volumes and schedules, changes in demand for the Company's railcar
services and parts business, and the Company's future financial
performance. Greenbrier uses words such as "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 are
not indicative of our financial results; uncertainty or changes in
the credit markets and financial services industry; high levels of
indebtedness and compliance with the terms of our 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; 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 our insurance coverage; train derailments or other
accidents or claims that could subject us to legal claims; actions
or inactions by various regulatory agencies including potential
environmental remediation obligations or changing tank car or other
rail car 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 our Annual Report on Form 10-K for the
fiscal year ended August 31, 2015,
and our 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, we do not assume any obligation to update any
forward-looking statements.
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SOURCE The Greenbrier Companies, Inc. (GBX)