Greenbrier Commends Canadian Government's Rail Safety Measures

News provided by

The Greenbrier Companies, Inc. (GBX)

Apr 24, 2014, 06:00 ET

LAKE OSWEGO, Ore., April 24, 2014 /PRNewswire/ -- The Greenbrier Companies, Inc. (NYSE:GBX) announced its support of the Government of Canada's measures introduced yesterday directed toward improving rail safety, specifically the safe movement of hazardous materials by rail.

"We are encouraged that Transport Canada has taken critical next steps to support the safe passage of dangerous goods," said William A. Furman, Chairman and CEO of Greenbrier. "These are important standards for North America and we applaud the Government of Canada for its leadership in implementing them."

In February 2014, Greenbrier announced its "Tank Car of the Future," a safer design for crude oil and ethanol service and the transport of other hazardous materials. This new design will address safety concerns from the existing legacy fleet of older DOT-111 cars and meet new industry and government standards for the transport of hazardous materials.

"Safety is paramount to our customers and within the rail industry," adds Mr. Furman. "Our recent announcement that we are doubling Greenbrier's tank car production capacity will help the rail industry as we move toward greater regulatory certainty on tank car standards and address the measures announced yesterday by Minister Raitt."

About The Greenbrier Companies

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 its four manufacturing facilities in the U.S. and Mexico and marine barges at its U.S. facility. It also repairs and refurbishes freight cars and provides wheels and railcar parts at 37 locations across North America. Greenbrier builds new railroad freight cars and refurbishes freight cars for the European market through both its operations in Poland and various subcontractor facilities throughout Europe. Greenbrier owns approximately 8,800 railcars, and performs management services for approximately 233,000 railcars.

SOURCE The Greenbrier Companies, Inc. (GBX)