First non-founding organization to enter joint venture becomes the coalition’s sixth member. Seeks to advance rail safety, increase telematics adoption, drive growth in freight rail utilization.
The Greenbrier Companies, Inc. (NYSE: GBX) (“Greenbrier”), a leading international supplier of equipment and services to global freight transportation markets, announced today that it has joined RailPulse™, a coalition of forward-thinking railcar owners, builders and operators which together will facilitate and accelerate the adoption of GPS and other telematics technology across the North American freight rail network.
RailPulse, formed in 2020 by a diverse group of industry leading stakeholders, includes Norfolk Southern, GATX Corporation, Genesee & Wyoming Inc., Watco and TrinityRail. The group aims to aggregate North American railcar fleet data on a single platform to increase the safety and efficiency of freight rail transportation and enhance the visibility of customer goods throughout the shipping process by:
- Using key data to provide real-time performance information, including safety data, on railcars to shippers, railcar owners and railroads across the entire North American rail network.
- Reinforcing rail’s competitive modal share in freight transportation by giving shippers visibility into the status, location and condition of rail equipment and the commodities being transported.
“We are very excited to welcome Greenbrier to RailPulse,” said Mike McClellan, Vice President of Strategic Planning at Norfolk Southern. “Greenbrier brings a tremendous amount of industry experience and capacity to the RailPulse team, and we look forward to integrating their expertise into the development and deployment of the platform. This is just another indication of the growing appeal of the transformative possibilities offered by telematics for the benefit of all parties in the rail ecosystem: railroads, shippers and railcar owners alike.”
“The adoption of RailPulse technology advances rail safety, enhances our customer service model and drives growth for the rail freight industry at large,” said Brian Comstock, Executive Vice President, Chief Commercial & Leasing Officer at Greenbrier. “It also extends Greenbrier’s commitment to sustainability by making a more fuel-efficient transportation option appealing to freight shippers and enhancing the competitiveness of rail freight compared with other modes of shipping.”
Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Through wholly owned subsidiaries and joint ventures, Greenbrier designs, builds and markets freight railcars and marine barges in North America, Europe and Brazil. We are a leading provider of freight railcar wheel services, parts, maintenance, refurbishment and retrofitting services in North America through our wheels, repair & parts business unit. Greenbrier manages 445,000 railcars and offers railcar management, regulatory compliance services and leasing services to railroads and other railcars owners in North America. GBX Leasing (GBXL) is a special purpose subsidiary that owns and manages a portfolio of leased railcars that originate primarily from Greenbrier’s manufacturing operations. Together, GBXL and Greenbrier own a lease fleet of nearly 12,500 railcars. Learn more about Greenbrier at www.gbrx.com.
“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: This press release may contain forward-looking statements, including any statements that are not purely statements of historical fact. Greenbrier uses words, and variations of words, such as, “accelerate,” “advance,” “aim,” “drive,” “enhance,” “facilitate,” and “pursue” and similar expressions to identify forward-looking statements. These forward-looking statements include, without limitation, statements about adoption of technology, pricing, and sustainability as well as other information regarding future performance and appear throughout this press release. These forward-looking statements are not guarantees of future performance and are subject to certain risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward-looking statements. Factors that might cause such a difference include, but are not limited to, the COVID-19 coronavirus pandemic, the related decline in general economic activity, supply disruptions during the recovery of the economy as well as governmental reactions to the foregoing, inability of industry participants to cooperate, failure of technological goals to be achieved. More information on these risks and other potential factors that could cause our results to differ from our forward-looking statements is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and subsequent Form 10-Q filings. Except as otherwise required by law, the Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s opinions only as of the date hereof.
SOURCE The Greenbrier Companies, Inc.
For further information: Jack Isselmann, Media Relations, Justin Roberts, Investor Relations, 503-684-7000