Since May 21, the Greenbrier Companies have accepted 3,500 orders for the firm’s “Tank Car of the Future,” which when combined with the 4,200 other current tank-car orders, brings its order book to a value of $960 million.
Greenbrier officials also said that interest in tank retrofits will help its new joint venture with Watco Companies get off the ground later this year. This demand is being spurred by the increase in safety requirements for railroads transporting crude oil by rail.
"We are inspired by the commitment to safety demonstrated by our railroad, leasing company and shipper clients,” William Furman, Greenbrier’s chairman and chief executive officer, stated. “Long-awaited regulatory action in Washington, D.C., will soon reinforce America's long-standing priority to protect the public and preserve the natural environment.”
Furman warned, however, that transportation of crude by rail has contributed a host of jobs and generated significant contributions to the nation’s economy.
“Current tank car rulemaking must take caution not to squelch or impede the economic miracle associated with the energy renaissance in North America,” he said.