ARI: Greenbrier Seeks To Bolster North American Rail Manufacturing Assets

The Greenbrier Companies (NYSE: GBX) is planning to buy the manufacturing arm of American Railcar Industries as a way to increase its North American presence.Oregon-based Greenbrier, a railcar manufacturer that serves markets in North America, Europe, Saudi Arabia and Brazil, will acquire the assets from ITE Management in a transaction valued at $400 million, the company said on April 18. ITE acquired American Railcar Industries in December 2018.Greenbrier said the deal will "diversify" its manufacturing presence in North America by enabling the company to provide its North American customers, which include the Class I railroads and shortlines, shippers and railcar lessors, with complementary and supplementary car component offerings. The deal ...Full story available on Benzinga.com