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FreightCar America Installs New Production Line in Roanoke to Build Newly Designed Coal Cars for Norfolk SouthernFreightCar America, Inc. (NASDAQ:RAIL), today delivered the first railcar of an order for 1,200 newly designed BethGon® II hybrid coal cars to Norfolk Southern Railway Company at FreightCar America’s facility in Roanoke, Virginia. Wick Moorman, Norfolk Southern’s chief executive officer, christened the new railcar as he accepted it from the employees of FreightCar America. Delivery of the new coal car also marked the opening of FreightCar America’s second railcar production line in Roanoke, housed in facilities leased from Norfolk Southern at the railroad’s East End shops. In addition to Moorman, attending the ceremonies today were Roanoke Mayor C. Nelson Harris and City Manager Darlene Burcham, as well as officials from Norfolk Southern, the Commonwealth of Virginia, the City of Roanoke and FreightCar America. “This expansion further energizes an industry that has a long-standing tradition in the Roanoke Valley,” said City Manager Burcham. “This is more good news for the citizens of Roanoke.” Norfolk Southern’s Moorman said, “With both higher capacity and expected improvements in service life, these cars will be valuable additions to our coal car fleet. We are pleased to have worked with FreightCar America in the design and testing phases, and we are excited to see the new cars being produced in Roanoke.” Kenneth D. Bridges, FreightCar America’s senior vice president, operations, added, “We are proud that Norfolk Southern has chosen us to design and build these new hybrid coal cars. In two short years, we have established our Roanoke facility as a world-class freight car producer.” FreightCar America manufactures railroad freight cars, with particular expertise in coal-carrying railcars. In addition to coal cars, FreightCar America designs and builds flat cars, mill gondola cars, intermodal cars, coil steel cars and AVC aluminum vehicle carriers. FreightCar America is headquartered in Chicago and, in addition to Roanoke, has manufacturing facilities in Danville, Illinois, and Johnstown, Pennsylvania. More information about FreightCar America is available at www.freightcaramerica.com. This press release may contain statements relating to expected financial performance and/or future business prospects, events and plans relating to FreightCar America, Inc. that are "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. These potential risks and uncertainties include, among other things: the cyclical nature of our business; adverse economic and market conditions; fluctuating costs of raw materials, including steel and aluminum, and delays in the delivery of raw materials; our ability to maintain relationships with our suppliers of railcar components; our reliance upon a small number of customers that represent a large percentage of our sales; the variable purchase patterns of our customers and the timing of completion, delivery and acceptance of customer orders; the highly competitive nature of our industry; the risk of lack of acceptance of our new railcar offerings by our customers; and the additional risk factors described in our filings with the Securities and Exchange Commission. We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise.
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