UPDATE 1-Greenbrier unit to cut production, affect 400 workers

* Says subsidiary Gunderson to cut production rates

* To implement 4-day work week at marine barge operation

May 28 (BestGrowthStock) – Railroad equipment supplier Greenbrier
Cos (GBX.N: ) said its unit Gunderson LLC would cut production
rates at its marine barge operation due to uncertainties in the
marine market, affecting close to 400 employees.
Increased market uncertainty due in part to the oil spill in
the Gulf of Mexico and delays in oil drilling projects have
caused customers to delay decisions, the company said. In
addition, the recently adopted River Plan would increase
regulation, bureaucracy, and costs of operating the Gunderson
facility, Greenbrier said.

The plan would address issues such as habitat conservation
and restoration, bank treatment, landscaping and stormwater
management for the land along the Willamette River, according
to the City of Portland Bureau of Planning and Sustainability

The company said it has implemented a four-day work week at
its marine barge operation.

Greenbrier, however, said that the work schedule of the
nearly 300 workers dedicated to Gunderson’s rail operations is
unaffected by the decision.

Gunderson, located at a deepwater facility on the
Willamette River for over 70 years, manufactures railcars and
marine barges.

Shares of the company closed at $14.85 Thursday on the New
York Stock Exchange.

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(Reporting by Divya Sharma in Bangalore; Editing by Aradhana
Aravindan) (([email protected]; within U.S. +1
646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging:
[email protected]))

UPDATE 1-Greenbrier unit to cut production, affect 400 workers