Plus   Neg

Greenbrier To Buy Manufacturing Units Of American Railcar Industries

The Greenbrier Companies, Inc. (GBX) said it has agreed to acquire the manufacturing business of American Railcar Industries from ITE Management LP in a deal valued at $400 million. Headquartered in St. Charles, Missouri, American Railcar Industries has two manufacturing facilities in Arkansas.

The deal, which is expected to close in calendar 2019, will be accretive to adjusted earnings per share by more than 20% during the first 12 months.

"We expect the acquisition to be meaningfully accretive and position Greenbrier for growth in our core manufacturing and engineering business in North America. Cost synergies and economies of scale are expected to benefit our customers, including shippers, leasing companies and North American railroads," said William Furman, CEO.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Justin Sun, the entrepreneur who founded the cryptocurrency platform TRON, has postponed his charity lunch with billionaire investor Warren Buffett due to ill health. "TRON Foundation announces postponement of Warren Buffett lunch, press conferences after founder Justin Sun falls ill with kidney stones.... Mountain Rose Herbs has recalled one lot of Fennel Seed Whole after the company found salmonella in part of its inventory. The Eugene, Oregon-based company has recalled all sizes ranging from 4 oz. to 50 lbs. of its Fennel Seed Whole, Lot #25031, because they have the potential to be contaminated... The U.S. Food and Drug Administration announced the suspension of the food facility registration of seafood producer Topway Enterprises Inc., also doing business as Kazy's Gourmet, following repeated food safety violations. From now, Topway will not be able to sell or distribute any food products.
Follow RTT