Greenbrier Companies completed the acquisition of the manufacturing business of American Railcar Industries (ARI) from ITE Management LP (ITE) substantially consistent with the USD 430 million agreement signed in April.
These operations will be fully incorporated into Greenbrier’s North American business model both from a manufacturing and commercial perspective.
“Acquiring the manufacturing operations of ARI is a major milestone for Greenbrier. The transaction advances three of our strategic goals: strengthening our presence in the North American rail equipment market, growing at scale and developing a robust talent pipeline,” William Furman, Greenbrier CEO said.
Greenbrier’s U.S. workforce totals approximately 4,000 people, including nearly 1,600 U.S. workers joining from ARI.
Under the agreement, Greenbrier adds two railcar manufacturing facilities in Arkansas and five other operations that provide a range of railcar component and parts supply. The combination provides Greenbrier a more complete product offering in tank cars and covered hoppers through Greenbrier’s integrated business model. Operating lessors, shippers and rail operators, all core to Greenbrier’s customer base, can now access company’s broad range of railcar products through either direct sales or creative lease financing solutions, paired with a broad range of after-market services.