The Greenbrier Companies announced it received new orders in its first quarter ended November 30 for 14,100 railcar units valued at $1.24 billion.

Orders for the quarter include small-cube covered hopper cars for sand and cement transportation, boxcars, double-stack intermodal units, automobile carrying cars, gondolas and tank cars, both for crude oil and other commodity types. These orders include 11,400 units valued at nearly $1 billion received in September and October 2014 which Greenbrier previously disclosed on October 30, 2014.

William A. Furman, chairman and CEO said, “Our strategy to diversify our product mix continues to pay off, with nearly two-thirds of the orders received being non-energy related. We are well positioned to meet this broad-based demand with our efficient, flexible and lower-cost facilities. Greenbrier’s business has never been better balanced than it is now.”

“We anticipate the regulatory picture for tank cars transporting hazardous materials will be clarified with final US and Canadian government actions in early 2015,” Furman said. “This will prompt an additional wave of new tank car orders and tank car retrofits, regardless of current oil prices. Greenbrier is strategically positioned to meet this demand.”