Greenbrier invests in Brazil as European deal nears completion
BRAZIL: The Greenbrier Companies completed investments to increase its directly owned stake in wagon manufacturer Amsted-Maxion Equipamentos E Serviços Ferroviários (Greenbrier-Maxion) from 19∙5% to 60% on April 28, and has also increased its stake in castings and components supplier Amsted-Maxion Cruzeiro from 19∙5% to 24∙5%. The investment in Amsted-Maxion Cruzeiro also provides an additional 10% indirect interest in Greenbrier-Maxion.
Greenbrier-Maxion is based at Hortolândia near São Paulo, and has a share of more than 70% of the Brazil wagon manufacturing market. It also offers aftermarket services including wagon overhaul and refurbishment; according to Greenbrier more than 60% of Brazil’s wagons are 30 or more years old.
Greenbrier is the second largest wagon builder in North America, and said its majority ownership in Greenbrier-Maxion makes it the largest in South America. The merger of its European activities with those of Romania’s Astra Rail is expected to be completed shortly and would make Greenbrier the largest wagon builder in Europe, with a combined global footprint making it among the largest wagon builders in the world.
‘We are pleased to grow our presence in the emerging Latin American rail market’, said William A Furman, Chairman & CEO of Greenbrier. ‘Greenbrier-Maxion, with strong leadership and access to innovations from its US investors, Greenbrier and Amsted, is well-positioned to provide leading railcar manufacturing, design and aftermarket services to Brazil, other Latin American markets, and beyond.’