Stonebriar Commercial Finance (“SCF”) announced today that it has entered into an agreement with The Greenbrier Companies Inc. (“Greenbrier”) (NYSE: GBRX) to purchase 3,000 new railcars. The order is comprised of a mix of tank and freight cars that deliver over a four-year period, beginning in May of 2020.
Jeff Wilkison, who oversees SCF’s rail leasing platform, commented, “Our order will ensure we can provide an on-going supply of cost-competitive railcars to our growing customer base.” Dave B. Fate, CEO of SCF noted, “We are pleased to partner with Greenbrier, whose design capability and manufacturing quality will enable SCF to provide its customers with reliable performance and a broad range of car types to fit their specific shipping needs.”
Brian Comstock, Greenbrier Executive Vice President, Sales & Marketing, said “We appreciate SCF’s confidence in Greenbrier and look forward to meeting its railcar needs for years to come.”
Under the terms of the agreement, Greenbrier will deliver 750 railcars in 2020, with the remaining 2,250 cars delivering 2021 thru 2023. Wilkison continued, “The timing of this order is consistent with our expectation of continued demand among select car types.”
SCF provides full service and net operating leases to shippers and railroads throughout North America on a wide range of rail car types.
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