Greenbrier Releases Inaugural Environmental, Social and Governance Report
~ Greenbrier outlines ESG priorities in report ~
~ Oregon State Treasurer applauds voluntary ESG report ~
Lake Oswego, Oregon, August 20, 2019 – The Greenbrier Companies, Inc. (NYSE: GBX) today announced the release of its inaugural Environmental, Social and Governance (ESG) report which, among its highlights, includes Greenbrier’s corporate social responsibility accomplishments.
Greenbrier’s ESG priorities stem from its four pillar corporate strategy to: (i) strengthen its core North American engineering and manufacturing business; (ii) expand international operations; (iii) grow operations at scale in new and existing markets; and (iv) extend its talent base through a deeper talent pipeline. The report details four categories, including:
- Putting People First: Greenbrier’s commitment to employee health and safety, quality and safety certifications, diversity practices, equal employment opportunities and talent development initiatives.
- Advancing Sustainability: Rail and barge are among the most fuel efficient modes of freight transportation. In recent years, Greenbrier has introduced sustainable designs, including the reduction of tare weight and implementing articulation in more of its product offerings.
- Leading the Freight Transportation Industry: Highlights Greenbrier’s participation in trade associations, industry-led safety coalitions, campaign development and management and product innovation efforts.
- Contributing to Our Communities: Focuses on Greenbrier’s charitable giving efforts, worldwide volunteer action and employee giving campaigns.
Check out Greenbrier’s first Environmental, Social and Governance (ESG) report https://bit.ly/2KWJXjY. We are proud to sustainably build the freight railcars and marine barges that move what matters and bring communities together. Tweet
“As an industry leader, Greenbrier provides innovative approaches to freight rail and marine transportation,” said William A. Furman, Chairman and CEO. “However, a company’s value is based on much more than numbers. Corporate responsibility, environmental stewardship and strong governance have become increasingly integral components to customer, shareholder and employee satisfaction. I am pleased to see our recent achievements published for review by investors, customers, employees and other stakeholders.”
“This first ESG report is a rewarding milestone for Greenbrier and we look forward to enhancing our ESG reporting as our business grows,” said Lorie Tekorius, Greenbrier Executive Vice President and Chief Operating Officer. “I am proud of all our team members and appreciate the commitment each Greenbrier facility has made to get here. As one of the world’s largest freight railcar and marine barge manufacturers, we strive to lead by example. This ESG report is no exception.”
In 2018, the Portland Business Journal (PBJ) listed Greenbrier as the fourth largest publicly-traded company in Oregon and SW Washington based on annual revenue. In the same year, Greenbrier was listed at #13 on the PBJ’s “Most Admired Companies” list.
“We are glad to have employers like Greenbrier operating in Oregon,” said Tobias Read, Oregon State Treasurer. “I congratulate Greenbrier for its commitment to being a great employer and active corporate leader. I look forward to their continued success.”
More information on Greenbrier’s ESG efforts can be found at https://www.gbrx.com/about-us/corporate-responsibility/.
Jack Isselmann, Public Relations
Justin Roberts, Investor Relations
Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Greenbrier designs, builds and markets freight railcars and marine barges in North America. Greenbrier Europe is an end-to-end freight railcar manufacturing, engineering and repair business with operations in Poland, Romania and Turkey that serves customers across Europe and in the nations of the Gulf Cooperation Council. Greenbrier builds freight railcars and rail castings in Brazil through two separate strategic partnerships. We are a leading provider of freight railcar wheel services, parts, repair, refurbishment and retrofitting services in North America through our wheels, repair & parts business unit. Greenbrier offers railcar management, regulatory compliance services and leasing services to railroads and related transportation industries in North America. Through unconsolidated joint ventures, we produce industrial and rail castings, tank heads and other components. Greenbrier owns a lease fleet of 10,600 railcars and performs management services for about 375,000 railcars. Learn more about Greenbrier at www.gbrx.com.
UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: This press release may contain forward-looking statements, including any statements that are not purely statements of historical fact. Greenbrier uses words such as "affirms," "anticipates," "believes," "forecast," "potential," "goal," "contemplates," "expects," "intends," "plans," "projects," "hopes," "seeks," "estimates," "strategy," "could," "would," "should," "likely," "will," "may," "can," "designed to," "future," "foreseeable future" 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, reported backlog and awards that are not indicative of Greenbrier's financial results; uncertainty or changes in the credit markets and financial services industry; high levels of indebtedness and compliance with the terms of Greenbrier's indebtedness; write-downs of goodwill, intangibles and other assets in future periods; sufficient availability of borrowing capacity; fluctuations in demand for newly manufactured railcars or failure to obtain orders as anticipated in developing forecasts; loss of one or more significant customers; customer payment defaults or related issues; policies and priorities of the federal government regarding international trade, taxation and infrastructure; sovereign risk to contracts, exchange rates or property rights; actual future costs and the availability of materials and a trained workforce; failure to design or manufacture new products or technologies or to achieve certification or market acceptance of new products or technologies; steel or specialty component price fluctuations and availability and scrap surcharges; changes in product mix and the mix between segments; 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, costs or inefficiencies associated with expansion, start-up, or changing of production lines or changes in production rates, changing technologies, transfer of production between facilities or non-performance of alliance partners, subcontractors or suppliers; ability to obtain suitable contracts for the sale of leased equipment and risks related to car hire and residual values; integration of current or future acquisitions and establishment of joint ventures; succession planning; discovery of defects in railcars or services resulting in increased warranty costs or litigation; physical damage or product or service liability claims that exceed Greenbrier's insurance coverage; train derailments or other accidents or claims that could subject Greenbrier to legal claims; actions or inactions by various regulatory agencies including potential environmental remediation obligations or changing tank car or other railcar or railroad regulation; and issues arising from investigations of whistleblower complaints; all as may be discussed in more detail under the headings "Risk Factors" and "Forward Looking Statements" in Greenbrier's Annual Report on Form 10-K for the fiscal year ended August 31, 2018, Greenbrier's Quarterly Report on Form 10-Q for the fiscal quarter ended May 31, 2019, and Greenbrier's other reports on file with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date hereof. Except as otherwise required by law, Greenbrier does not assume any obligation to update any forward-looking statements.