Greenbrier Completes Three-year Labor Agreement at TrentonWorks.
The Greenbrier greenbrier: see smilax. Companies today announced labor negotiations are completed with employees covered by a collective bargaining agreement The contractual agreement between an employer and a Labor Union that governs wages, hours, and working conditions for employees and which can be enforced against both the employer and the union for failure to comply with its terms. at its TrentonWorks new railcar manufacturing facility in Nova Scotia, Canada. A new three-year contract was ratified on Wednesday, February 11, 2004.
William A. Furman, president and chief executive officer, said, "We are pleased with the outcome of the union ratification vote, and happy to get back to the primary business of TrentonWorks, which is to produce quality freight cars at competitive prices. The new contract recognizes the economic realities of the global marketplace, including a strong Canadian dollar Noun 1. Canadian dollar - the basic unit of money in Canada; "the Canadian dollar has the image of loon on one side of the coin"
dollar - the basic monetary unit in many countries; equal to 100 cents . It is favorable to both our employees at TrentonWorks and to the ongoing competitiveness and productivity of our Canadian manufacturing facility. The leadership and rank and file of the United Steelworkers of America is to be commended for their support."
The Greenbrier Companies (http://www.gbrx.com/), headquartered in Lake Oswego, Oregon Lake Oswego (IPA: ɔs wiː ɡo) is a city in Clackamas County, Oregon, United States. (Small parts of the city extend into Multnomah County to the north and Washington County to the west. , is a leading supplier of transportation equipment and services to the railroad industry in North America. Greenbrier builds new railroad freight cars in the U.S., Canada and Mexico, and repairs and refurbishes freight cars and wheels at thirteen locations across North America. The Company also builds new railroad freight cars and refurbishes freight cars for the European market through its manufacturing operations in Poland and various sub-contractor facilities throughout Europe. At Greenbrier's Portland, Oregon manufacturing facility, it builds ocean-going barges for the maritime industry. The Company produces rail castings through an unconsolidated joint venture and also manufactures new freight cars through the use of unaffiliated subcontractors. Greenbrier owns approximately 12,000 railcars and performs management services for approximately 113,000 railcars.
Except for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including without limitation, statements as to expectations, beliefs, and future financial performance. These forward-looking statements are dependent on a number of factors, business risks and issues, a change in which could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such factors, risks and issues are set forth from time to time under "Forward-Looking Statements," in Management's Discussion and Analysis Management's discussion and analysis (MD&A)
A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations in Greenbrier's SEC filings and reports. Any forward-looking statement speaks only as of the date on which such statement is made. Greenbrier undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
CONTACT: Mark Rittenbaum of The Greenbrier Companies, +1-503-684-7000
Web site: http://www.gbrx.com/