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Greenbrier Announces Multiple Tank Barge Order

LAKE OSWEGO, Ore., April 28, 2016 /PRNewswire/ -- The Greenbrier Companies, Inc. GBX, -0.92% 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...


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