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OWINGS MILLS, Md., Jan. 19 /PRNewswire-FirstCall/ -- Cryo-Trans, Inc. a
major leasing company specializing in the development and leasing of railroad
freight cars for transporting frozen and perishable products, announced it
placed an order in November, 2005 for 429 new refrigerated boxcars. These
state-of-the-art railcars ordered from The Greenbrier Companies, Inc.
(NYSE: GBX) have an interior length of 72 and have the highest cubic capacity
in the industry, at 7,765 cu. ft. The cars will be delivered later this year.
Cryo-Trans officials attribute Greenbriers expertise in building these
highly specialized cars and its reputation for innovative, quality products as
reasons for placing the recent order with Greenbrier. Greenbrier has built or
modified over 1,000 railcars for the frozen foods market since the mid-1980s.
Shells for the 429 new railcars will be provided by Greenbriers railcar
facility in Sahagun, Mexico. The railcars will be outfitted at Greenbriers
Gunderson Rail Services locations in Springfield, Oregon, and Finley,
Washington. The outfitting includes the installation of insulation,
refrigeration units, satellite sensors, the application of side plug doors and
painting of cars. Installation of the newest and most advanced two-way
satellite Global Positioning Systems (GPS) on the railcars will allow
Cryo-Trans to operate and manage its high-tech temperature controlled railcars
remotely via the internet.
Greenbrier officials cited the order as an excellent example of how
Greenbriers manufacturing footprint and integrated business model create
value and provide a competitive advantage. Since the order was received in
November 2005, it is reflected in Greenbriers November 30, 2005 backlog. The
Company recently disclosed it is in advance negotiations on several other
potential significant orders that would cause backlog to grow.
The Greenbrier Companies (http://www.gbrx.com), headquartered in Lake Oswego, OR,
is a leading supplier of transportation equipment and services to the railroad
industry. In addition to building new railroad freight cars in the U.S.,
Canada, and Mexico and to repairing and refurbishing freight cars and wheels
at 17 locations across North America, Greenbrier builds new railroad freight
cars and refurbishes freight cars for the European market through both its
operations in Poland and various subcontractor facilities throughout Europe.
Greenbrier owns approximately 11,000 railcars, and performs management
services for approximately 131,000 railcars.
Cryo-Trans is part of the MHW Group (http://www.mhwgroup.com) family of
companies, an asset based supply chain solutions company, headquartered in
Owings Mills, Maryland. MHW Group operates two public refrigerated
warehouses: Mt. Airy Cold Storage in Mt. Airy, Maryland, and Chambersburg
Cold Storage in Chambersburg, Pennsylvania, and a third public refrigerated
warehouse, Perryville Cold Storage in Perryville, Maryland (scheduled for
completion in December, 2006), two privately operated refrigerated facilities
in Darien, Wisconsin and Waseca, Minnesota, Cryo-Trans Logistics (a full
service truck brokerage company), and Cryo-Trans, Inc. the nations largest
privately owned lessor of mechanically refrigerated railcars with a fleet
which, by the end of 2006, will be in excess of 875 state-of-the-art
GPS-controlled, mechanically refrigerated railcars and super insulated RB
railcars.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995: This release may contain forward-looking statements. Greenbrier
uses words such as "anticipate," "believe," "plan," "expect," "future,"
"intend" and similar expressions to identify forward-looking statements.
These forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from those
reflected in the forward-looking statements. Factors that might cause such a
difference include, but are not limited to, actual future costs and the
availability of materials and a trained workforce; steel price increases and
scrap surcharges; changes in product mix and the mix between manufacturing and
leasing & services segment; labor disputes, energy shortages or operating
difficulties that might disrupt manufacturing operations or the flow of cargo;
production difficulties and product delivery delays as a result of, among
other matters, changing technologies or non-performance of subcontractors or
suppliers; ability to obtain suitable contracts for the sale of leased
equipment; all as may be discussed in more detail under the heading "Forward
Looking Statements" on pages 3 through 4 of Part I of our Annual Report on
Form 10-K for the fiscal year ended August 31, 2005. Readers are cautioned
not to place undue reliance on these forward-looking statements, which reflect
managements opinions only as of the date hereof. We undertake no obligation
to revise or publicly release the results of any revision to these forward-
looking statements.
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