The Greenbrier Companies announced that it has entered an agreement to acquire a 19.5% ownership in Amsted-Maxion Hortolandia, the leading railcar manufacturer in South America, for USD15 million. The agreement also provides Greenbrier with an option to acquire an additional 40.5% ownership interest, to be exercised no later than September 2017. The strategic investment is subject to customary closing conditions and is expected to close in the second calendar quarter of 2015. Amsted-Maxion Hortolandia holds an estimated 70% annual market share in the South American new railroad freight car market. Market demand in Brazil is forecasted to exceed approximately 4,000 new railcars annually for the near term and potentially through the end of this decade.
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