2023-05-16 07:12:06 ET
The Greenbrier Companies ( NYSE: GBX ) announced the sale of its Gunderson Marine operations to Oregon Green Manufacturing on Tuesday.
The sale includes a 58-acre industrial waterfront site in Portland and preserves “300 family-wage jobs at Gunderson.” The two companies also inked a non-competition agreement regarding Greenbrier's core business of freight railcar-related products and services. Other terms of the transaction were not disclosed.
Greenbrier CEO Lorie Tekorius added that the Greenbrier will remain an Oregon-headquartered Oregon-headquartered company despite the divestment.
“The transition of Gunderson Marine and the Front Avenue site leaves us encouraged but also with a heavy heart. Greenbrier was founded in Oregon and remains an Oregon-headquartered company with operations now on three continents,” she said. “We have been a steward of the Gunderson location since entering railcar manufacturing in 1985. The facility holds a special place in the life of Portland and Oregon. Ensuring the continued employment of our dedicated workforce was a priority in selecting a buyer for Gunderson Marine.”
Shares of Greenbrier Companies ( GBX ) slipped 1.1% in premarket action. The stock has declined by a double-digit percentage in the past month despite an early-April earnings beat .
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Greenbrier Companies completes sale of Oregon facility