August 25, 2010 / 10:49 AM / 7 years ago

CORRECTED - CORRECTED-UPDATE 1-Greenbrier says top marine customer may cance

(Corrects paragraph 2 to clarify that total marine backlog is $75 million, not contract value)

* Co says in talks with customer to modify order

* Says to cut production of marine barges

* Sees marine revenue, margins to fall

Aug 25 (Reuters) - Greenbrier Cos Inc (GBX.N) said its largest marine customer might cancel or postpone its contracts in backlog, and that it plans to cut production of marine barges due to uncertainty and slowdown in the market.

Greenbrier said it was in discussions with the customer, which represented 85 percent of its marine backlog of $75 million as of May 31, for modification of the contract.

One of its top marine customers is ocean transportation and logistics firm Crowley Maritime.

    Greenbrier, which also makes railroad equipment, said a cancellation or postponement of the contract would likely result in lower revenue and margins from its marine operations from the fourth quarter through the next fiscal year.

    The company also said it has received orders for more than 1,000 new double-stack intermodal platforms and 700 new covered hopper cars. [ID:nWNAB0632]

    Some of Greenbrier’s biggest railcar customers include GE (GE.N) and railroad operators BNSF and Union Pacific (UNP.N). (Reporting by A.Ananthalakshmi in Bangalore; Editing by Gopakumar Warrier)

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below