addition to new axle machining and finishing and axle downsizing. The company’s component parts facilities, operating in four locations, recondition and manufacture railcar cushioning units, couplers, yokes, side frames, bolsters, and various other parts. The company also produces roofs, doors and associated parts for boxcars. Leasing & Services segment Leasing The company’s relationships with financial institutions, combined with its ownership of a lease fleet of approximately 9,300 railcars (6,300 railcars held as equipment on operating leases, 2,800 held as leased railcars for syndication and 200 held as finished goods inventory), enables the company to offer flexible financing programs, including operating leases and ‘by the mile’ leases to its customers. The company originates leases of railcars, which are either newly built or refurbished by the company, or buy railcars from the secondary market, and sell the railcars and attached leases to financial institutions and subsequently provide such institutions with management services under multi-year agreements. As an equipment owner and an originator of leases, the company participates principally in the operating lease segment of the market. The majority of its leases are ‘full service’ leases whereby the company is responsible for maintenance and administration. Management Services The company’s management services business offers a range of software and services that include railcar maintenance management, railcar accounting services (such as billing and revenue collection, car hire receivable and payable administration), total fleet management (including railcar tracking using proprietary software), and administration and railcar remarketing. The company owns or provides management services for a fleet of approximately 269,000 railcars for railroads, shippers, carriers, institutional investors, and other leasing and transportation companies in North America. GBW Joint Venture segment Railcar Repair, Refurbishment, Maintenance and Retrofitting In 2014, the company and Watco Companies, LLC (Watco), its joint venture partner, contributed its railcar repair, refurbishment, maintenance, and retrofitting (Repair) operations to GBW, an unconsolidated 50/50 joint venture, which became the company’s fourth segment (GBW Joint Venture) upon formation. This segment operates an independent railcar repair shop network in North America consisting of 33 Repair shops, including 12 tank car repair shops certified by the Association of American Railroads (AAR). This network of Repair shops performs heavy railcar repair and refurbishment, as well as routine railcar maintenance for third parties and for its leased and managed fleet. Customers The company’s customers include railroads, leasing companies, financial institutions, shippers, carriers, and transportation companies. In 2015, revenue from one customer, TTX Company, accounted for approximately 17% of total revenue, 18% of Manufacturing revenue, and 11% of Wheels & Parts revenue. Suppliers Amsted Rail Company, Inc. accounted for 18% of total inventory purchases in 2015. Research and Development The company’s research and development costs incurred were $2.5 million during the year ended August 31, 2015. Regulation The Federal Railroad Administration in the U.S. and Transport Canada in Canada administer and enforce laws and regulations relating to railroad safety. These regulations govern equipment and safety appliance standards for freight cars and other rail equipment used in interstate commerce. These regulations require the company to maintain its certifications with the AAR as a railcar builder and component manufacturer, and products sold and leased by the company in North America must meet AAR, Transport Canada, and Federal Railroad Administration standards. History The Greenbrier Companies, Inc. was founded in 1974.
greenbrier companies inc (GBX:New York)
One Centerpointe Drive
Lake Oswego, OR 97035
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