Greenbrier to acquire the manufacturing business of American Railcar Industries from ITE Management for $430m.

Greenbrier Companies, an international supplier of equipment and services to global freight transportation markets, agreed to acquire the manufacturing business of American Railcar Industries from ITE Management, an investment firm, for $430m. The acquisition will diversify Greenbrier's American manufacturing presence, as well as broaden its product offerings with the addition of complementary designs. Greenbrier will acquire two railcar manufacturing facilities in Arkansas and five other operations that provide a range of railcar component and parts supply. "With a broader product portfolio and efficiencies extending from a larger operations base in America, we see this acquisition as a unique opportunity for Greenbrier to extend its position as a global leader in railcar manufacturing, with an increase in our total US-based production and an expansion of our American-based workforce. We are especially pleased to work with ITE on this acquisition, since we already enjoy a strong relationship with them as a valued syndication customer." William A. Furman, Chairman and CEO.