LAKE OSWEGO, Ore., Dec. 9, 2021 /PRNewswire/ -- Three of
America's leading industrial and transportation companies – United
States Steel Corporation (NYSE: X), Norfolk Southern Corporation
(NYSE: NSC) and The Greenbrier Companies, Inc. (NYSE: GBX) – today
jointly announced a new, more sustainable steel gondola railcar.
Using an innovative formula for high-strength, lighter-weight steel
developed by U. S. Steel, each gondola's unloaded weight is reduced
by up to 15,000 pounds. Gondola railcars transport loose bulk
material such as metal scraps, coils, wood chips, steel slabs and
ore. Norfolk Southern will initially acquire 800 of the Greenbrier
engineered gondolas.
The partnership between supplier, builder and end-user is rooted
in the recognition that North
America's aging gondola fleet will soon require substantial
replacement with a more sustainable design. U. S. Steel's materials
innovation, Norfolk Southern's commitment to sustainable freight
transportation and Greenbrier's deep engineering capability have
led to a stronger, lighter and more energy-efficient product for
the freight rail industry. U. S. Steel is a leader in designing
advanced, lightweight and high-strength steel solutions for the
automotive industry. It identified the interconnections between
steel advancements for automobiles and adapted these to the rail
industry.
Features of the newly designed gondolas provide several
benefits:
- Extended Lifecycle: The new steel is twice as strong as
traditional steel used in the railcar manufacturing process,
potentially extending the useful life of each gondola to 50 years.
A stronger external finish also strengthens the railcar body,
lowering maintenance costs.
- Increased Sustainability: The new gondola is more
energy-efficient, both during production and in use. The steel
fabrication process requires less time, leading to improved energy
efficiency due to less material being used. The lower weight
decreases the fuel needed by locomotives hauling the railcars,
reducing energy usage and lowering emissions.
- Greater Freight Capacity: Enhancements to the gondola
design also afford greater freight capacity. The high-strength
steel requires less structural reinforcement, simplifying the
manufacturing process and allowing more total cargo space in each
railcar.
"This remarkable collaboration with our partners at Norfolk
Southern and Greenbrier is helping realize the full potential of U.
S. Steel's continued product innovations as sustainable solutions
for the steel and transportation industries," said U. S. Steel
President and CEO David B. Burritt.
"We've often said that together we can do anything! This joint
initiative proves that point with an innovative railcar that is
stronger, lighter and more capable, with the planet being the
ultimate beneficiary."
"The use of lightweight, high-strength steel is a real
revolution for railcars. Not only will each gondola carry more
material, they will do so by using less energy, making our
operations, and our customer's operations, even more
environmentally friendly," said James A.
Squires, chairman and CEO of Norfolk Southern. "The
advancements made by Norfolk Southern, U. S. Steel, and Greenbrier
on these gondolas can be applied to other car types, ensuring that
this sustainable innovation continues well into the future.
Further, once these new gondolas are in service, we plan to recycle
the previous models."
"The work done by U. S. Steel, Norfolk Southern and Greenbrier
promises significant benefits to all three companies and the
freight transportation industry as a whole. The three partners on
this next-generation transportation equipment have deep roots in
industrial America. Together, we are leading the way to a net-zero
carbon economy. I look forward to our continued partnership," said
William A. Furman, Greenbrier
Chairman and CEO.
Moving freight by rail is the most environmentally friendly mode
of surface transport, with the average U. S. railroad moving one
ton of freight 470 miles per gallon of fuel. The high-strength
steel gondola aims to further improve this performance for
railroads. Learn more about the high-strength steel collaboration
at go.gbrx.com/gondola.
About U. S. Steel
Founded in 1901, United
States Steel Corporation is a leading steel producer. With an
unwavering focus on safety, the company's customer-centric Best for
All℠ strategy is advancing a more secure, sustainable future for U.
S. Steel and its stakeholders. With a renewed emphasis on
innovation, U. S. Steel serves the automotive, construction,
appliance, energy, containers, and packaging industries with high
value-added steel products such as U. S. Steel's proprietary XG3™
advanced high-strength steel. The company also maintains
competitively advantaged iron ore production and has an annual raw
steelmaking capability of 26.2 million net tons. U. S. Steel is
headquartered in Pittsburgh,
Pennsylvania, with world-class operations across
the United States and in
Central Europe. For more
information, please visit www.ussteel.com.
About Norfolk Southern
Norfolk Southern
Corporation (NYSE: NSC) is one of the nation's premier
transportation companies, moving the goods and materials that drive
the U.S. economy. Norfolk Southern connects customers to markets
and communities to economic opportunity, with safe, reliable, and
cost-effective shipping solutions. The company's service area
includes 22 states and the District of
Columbia, every major container port in the eastern
United States, and a majority of
the U.S. population and manufacturing base.
About Greenbrier
Greenbrier, headquartered in
Lake Oswego, Oregon, is a leading
international supplier of equipment and services to global freight
transportation markets. Through wholly-owned subsidiaries and joint
ventures, Greenbrier designs, builds and markets freight railcars
and marine barges in North
America, Europe and
Brazil. We are a leading provider
of freight railcar wheel services, parts, maintenance and
retrofitting services in North
America through our rail services business unit. Greenbrier
manages 444,000 railcars and offers railcar management, regulatory
compliance services and leasing services to railroads and other
railcars owners in North America.
GBX Leasing (GBXL) is a special purpose subsidiary that owns and
manages a portfolio of leased railcars that originate primarily
from Greenbrier's manufacturing operations. As of September 30, 2021, GBXL and Greenbrier own a
lease fleet of nearly 12,500 railcars. Learn more about
Greenbrier at www.gbrx.com.
UPDATE "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995: This release may contain
forward-looking statements, including any statements that are not
purely statements of historical fact. Greenbrier uses words, and
variations of words, such as "afford", "extend", "lead", "make",
"promise", "will", "balancing" and similar expressions to identify
forward looking statements. These forward-looking statements are
not guarantees of future performance and are subject to certain
risks and uncertainties that could cause actual results to differ
materially from the results contemplated by the forward-looking
statements. Factors that might cause such a difference include, but
are not limited to, the following: (1) our backlog is not
necessarily indicative of future results of operations; (2)
COVID-19 governmental reaction to the pandemic and related economic
disruptions; (2) our ability to attract, retain and motivate senior
management and other employees. (3) efficient and available
supply of products and services used in our business. More
information on potential factors that could cause our results to
differ from our forward-looking statements is included in the
Company's filings with the SEC, including in the "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" sections of the Company's most recently
filed periodic report on Form 10-K and subsequent quarterly
filings. Except as otherwise required by law, the Company assumes
no obligation to update any forward-looking statements or
information, which speak as of their respective dates. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which reflect management's opinions only as of the date
hereof.
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SOURCE The Greenbrier Companies, Inc.