The Greenbrier Companies announced that it has closed on the previously reported acquisition of a 19.5% ownership stake in Amsted-Maxion Hortolandia, the leading railcar manufacturer in South America, for approximately USD 15 million. Greenbrier has an option to acquire an additional 40.5% ownership interest, to be exercised no later than September 30, 2017. Amsted-Maxion Hortolandia will use Greenbrier’s strategic investment to pay down outstanding debt and position the company for future growth
Amsted-Maxion Hortolandia holds an estimated 70% annual market share in the South American new railway freight car market. Market demand in Brazil is forecast to exceed approximately 4,000 new railcars annually for the near term and potentially through the end of this decade.
In 2013, Greenbrier and Amsted-Maxion established a relationship in Brazil by entering into a licensing agreement related to the production of intermodal railcars designed by Greenbrier.