Gunderson Purchases FMC's Marine And Rail Equipment Division
A group of Oregon investors has purchased FMC Corporation's Marine and Rail Equipment Division in Portland, bringing corporate ownership back to the State. The new company, named Gunderson Inc., will re-establish more than 400 manufacturing jobs in the Portland area.
The acquisition was spearheaded by C. Bruce Ward, a former president of the FMC Division, and William A. Furman, president of Greenbrier Leasing Corporation, with financial assistance from Standard Insurance Company and the State of Oregon.
"We're excited about the public and private sectors working together to keep business in Oregon," said Mr. Ward, Gunderson president. "Thanks to state treasurer Bill Rutherford, and Standard Insurance, we've been able to form the new Gunderson Inc." In 1984, FMC and Greenbrier Leasing entered into a joint development contract, funded by Greenbrier, to design, engineer, and build a new railroad car capable of carrying double-stacked intermodal containers. The result is the new Twin- Stack™ railcar that is rapidly gaining acceptance from the railroad industry and major container shippers nationwide. The success of this new product and FMC's subsequent decision to divest the Portland division encouraged the investors to make the acquisition.
Gunderson manufactures and repairs railcars of all types at its 75- acre plant along the waterfront in northwest Portland. It also builds and repairs barges and other marine equipment.
Founded in 1968, Greenbrier is a privately held railcar leasing company based in Oregon City. It specializes in leasing intermodal flatcars on an operating basis to Class I railroads, and is the second largest nonrailroad owner of intermodal flatcars in the U.S.
For further information on Gunderson Inc.,