UPDATE 3-Greenbrier's key customer GE to take fewer deliveries

martes 7 de julio de 2009 19:55 CEST

* To stop railcar production at Concarril facility in Mexico

* To furlough 550 more workers; employee count down to 2,500

* Q3 profit $0.03 ex-items vs est shr loss $0.06

* Q3 rev $244.4 million vs $277.2 million est

* Shares down almost 12 pct (Adds conference call details, share movement)

BANGALORE, July 7 (Reuters) - Greenbrier Cos Inc (GBX.N: Cotización) posted a surprise quarterly profit, but said key customer GE (GE.N: Cotización) had begun taking fewer railcar deliveries and added that it would furlough 550 more workers as it stops production at a Mexico facility.

Through Sept. 30, General Electric will accept 414 lesser railcars than what was agreed, Greenbrier said, adding that it believes GE to be in breach of its obligations under their existing contract.

"GE asserts that in subsequent periods they will accept for delivery an even smaller number of railcars. The seriousness of this problem to us accelerates during each fiscal quarter of fiscal 2010 and 2011," Greenbrier said.

GE intends to accept no more than 25 tank cars and 10 covered hopper cars per month from October 2009 to June 2010.   Continuación...