FreightCar America, Inc. Announces Expansion into Tank Cars Securing Multi-Year Order

Core Viewpoint - FreightCar America has entered into a multi-year agreement to convert over 1,000 existing DOT 111 tank cars to upgraded DOT 117R specifications, enhancing its product offerings and solidifying its position in the rail transportation market [1][2]. Group 1: Agreement Details - The agreement involves upgrading over 1,000 existing DOT 111 tank cars to DOT 117R specifications over a two-year period [2]. - Upgrades will include new exterior tank jackets, thermal protection, full height head shields, top fittings protection, and upgraded bottom outlet valves [2]. - All tank cars transporting certain hazardous and flammable liquids must be upgraded by 2029 as part of a federally mandated program [2]. Group 2: Company Capabilities - The company has a legacy of over 120 years and has delivered more than 15,000 conversions and rebodied railcars [1]. - The Castaños facility has the capacity to efficiently handle these modifications, minimizing the number of cars out of service at any given time [3]. - The expansion into tank car conversions is seen as a key milestone in diversifying the company's product offerings [1][4]. Group 3: Market Position and Future Growth - This expansion broadens the company's offerings of railcars and enhances opportunities to grow its addressable market and customer base [4]. - The company is committed to quality and reliability in large-scale projects, aiming to set new standards in manufacturing and commercial excellence [4]. - The agreement underscores the company's capability as a reliable partner in large-scale projects, reinforcing its position as a key player in the rail transportation industry [2].