FreightCar America Expands Into Tank Cars Securing Multi-Year Order; Agreement Includes The Upgrade Of Over 1,000 Existing Dot 111 Tank Cars To Dot 117R Tank Cars Over A 2-Year Period

Author: Benzinga Newsdesk | August 01, 2024 08:05am

• New agreement leverages FreightCar America's capabilities by adding tank car conversions to diversified offerings
• Optimized production capacity at state-of-the-art manufacturing campus supporting large-scale multi-year projects
• Each tank car will be upgraded to meet the latest federally mandated advancements, ensuring optimal safety, efficiency, and performance
  
   

CHICAGO, Aug. 01, 2024 (GLOBE NEWSWIRE) -- FreightCar America, Inc. (NASDAQ:RAIL) ("FreightCar America" or the "Company"), a pure-play manufacturer of high-quality railcars with a legacy of 120+ years, proudly announces that it has entered into a multi-year agreement to convert tank cars to upgraded specifications. The Company's storied history includes a strong foundation including deliveries of over 15,000 conversions and rebodied railcars that have paved the way for this landmark agreement. This expansion into tank car conversions marks a key milestone in the Company's ongoing efforts to diversify its product offerings while continuing to support its legacy and meet customer needs.

The scope of this agreement includes the upgrade of over 1,000 existing DOT 111 tank cars to DOT 117R tank cars over a two-year period. The completed tank cars will receive new exterior tank jacket, thermal protection, full height head shields, top fittings protection and upgraded bottom outlet valves. As part of a federally mandated program, all tank cars transporting certain hazardous and flammable liquids must be upgraded by 2029. This demonstrates the Company's capability as a reliable partner in large-scale projects, while underscoring the Company's commitment to meeting the evolving needs of the rail transportation market and solidifying its position as a key player in the industry.

Posted In: RAIL