Station naming deals announced
Runaway Rail Car Kicked Loose by Teen Hits New York Station
Škoda unveils its second tram for the Chinese market
Wabtec to buy Faiveley Transport for US$1·8bn
Constantine tram extension contract
Channel Tunnel: '2,000 migrants' tried to enter
Ottawa urban rail gets federal funding
UK and Italian operators order Vossloh locomotives
First Great Western and Eversholt sign Hitachi AT300 train contract
Tanzania, Rwanda and Burundi invite interest in DIKKM railway
As part of its response to the effects of the coronavirus pandemic, The Greenbrier Companies has amended its 50:50 joint venture agreement with Grupo Industrial Monclova, the manufacturing partner at the Greenbrier GIMSA wagon plant in Monclova, Mexico.
Both partners will receive additional revenue and dividends for a 12-month period, based on Greenbrier GIMSA revenue beginning March 1 2020. Greenbrier said this would ensure Greenbrier GIMSA ‘continues as a North American leader in freight railcar manufacturing’.
The change forms part of measures to increase Greenbrier’s cash and borrowing availability from US$620m to US$1bn.
‘Greenbrier is successfully executing the dual priorities of protecting the safety and health of employees and preserving the economic well-being of our enterprise in this challenging environment’, said Chairman & CEO William A Furman on May 13. ‘We continue to improve our financial liquidity, including the temporary restructuring of a key partnership at our railcar manufacturing joint venture in Mexico in a manner beneficial to both partners.’
Greenbrier had increased borrowing capacity and liquidity by almost US$200m by end of its Q2 on February 29, and was reducinge operating expenses, capital outflows and selling, administrative and non-essential expenses.
This article first appeared on www.railwaygazette.com
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2020 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.