Greenbrier Acquires Assets of Roller Bearings Industries

Greenbrier owns approximately 9,000 railcars, and performs management services for approximately 138,000 railcars.

Salem-News.com Business Report

(LAKE OSWEGO, Ore.) - The Greenbrier Companies (NYSE:GBX) announced today that it has acquired substantially all of the operating assets of Roller Bearing Industries, Inc. ("RBI") from SKF USA Inc. RBI has been a reliable leading supplier of reconditioned wheelset roller bearings to the rail industry for nearly 30 years.

Greenbrier will immediately assume the operations of the RBI facility in Elizabethtown, Kentucky with a current workforce of about 50 employees.

Tim Stuckey, president of Greenbrier Rail Services, said, "This acquisition is an excellent fit with our current operations. It enables us to increase our vertical integration in the wheel services business and expand our growing replacement parts business. Greenbrier is a leading provider of reconditioned wheel sets to the rail industry. Reconditioned bearings are used in approximately 90% of the wheelsets we refurbish at our network of 12 wheel shops. The acquisition of RBI will ensure procurement of a key business component, strengthen our competitive position and expand our product offerings. Reconditioned bearings will be made available to both Greenbrier and to third party customers."

With the addition of RBI, Greenbrier's refurbishment & parts business now operates from 39 strategic locations in the U.S. and Mexico, providing an end-to-end shop network for wheel replacement, replacement parts and railcar repair.

About Greenbrier

Greenbrier (gbrx.com), headquartered in Lake Oswego, Oregon, is a leading supplier of transportation equipment and services to the railroad industry. The Company builds new railroad freight cars in its three manufacturing facilities in the U.S. and Mexico and marine barges at its U.S. facility.

It also repairs and refurbishes freight cars and provides wheels and railcar parts at 39 locations across North America. Greenbrier builds new railroad freight cars and refurbishes freight cars for the European market through both its operations in Poland and various subcontractor facilities throughout Europe.

Greenbrier owns approximately 9,000 railcars, and performs management services for approximately 138,000 railcars.

Source: The Greenbrier Companies