FreightCar America, Inc. Announces Agreement to Acquire Assets of Navistar, Inc.’s Railcar Operations at Shoals Facility
Freightcar America, Inc. (RAIL)
Last freightcar america, inc. earnings: 2/26 08:06 pm
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Source: GlobeNewswire
CHICAGO, Feb. 26, 2018 (GLOBE NEWSWIRE) -- FreightCar America, Inc. (NASDAQ:RAIL) (“FreightCar”) announced today that it has entered into an asset purchase agreement with Navistar, Inc. (“Navistar”) to acquire substantially all of Navistar’s operating assets associated with its railcar operations at the Shoals facility in Cherokee, Alabama. The transaction is expected to close on or around February 28, 2018 subject to the conditions set forth in the asset purchase agreement. “This acquisition will allow us to now control our own destiny and benefit from the full economics of all future railcars built within the Shoals facility,” said Jim Meyer, President and Chief Executive Officer. “This is good news for our customers, our brand, our products, our people and the Shoals community. I want to thank Navistar for the prior relationship and the Retirement Systems of Alabama, the owners of the facility, for its support in this transaction.” Meyer concluded, “We are making important inve
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