Greenbrier to acquire American Railcar

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LAKE OSWEGO, Ore. — Railcar manufacturer The Greenbrier Companies has agreed to purchase American Railcar Industries from its current owner, ITE Management.

Press releases at 6 a.m. EDT from Greenbrier and ITE to announce the deal say Greenbrier will buy American Railcar for $430 million in cash and convertible debt. ITE had completed purchasing American Railcar and taking it private just five months ago, on Dec. 5, 2018.

The acquisition means Greenbrier will add two manufacturing facilities in Arkansas, as well as five other operations that manufacture components including hopper car outlets, tank car valves, axles, castings, running boards and other products.

“We see this acquisition as a unique opportunity for Greenbrier to extend its position as a global leader in railcar manufacturing,” Chairman and CEO William A. Furman said in a press release, “with an increase in our total U.S.-based production and an expansion of our American-based workforce.  We are especially pleased to work with ITE on this acquisition, since we already enjoy a strong relationship with them as a valued syndication customer.”

The deal is subject to regulatory review before closing.

NEWSWIRETrains News Wire

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