Greenbrier Cos Inc received its second new railcar order in just over a month, indicating that a recovery in the railcar market was well underway.

The company, whose customers include Union Pacific Corp and General Electric Co , said the order for 3,000 new railcars was worth about $200 million.

"These new orders are expected to have a meaningful positive impact on our financial results in 2011 and reinforce our view that a recovery is underway in the overall North American new railcar market," Chief Executive William Furman said in a statement.

Greenbrier's railcar business has picked up steadily this year as long-idled railcars come out of storage and are in need of repair and railroads start ordering new cars.

In August, the company received about $130 million worth of new railcar and refurbishment orders and said it planned to add jobs at its plant.

The latest order consists of 2,250 double-stack intermodal platforms, which are large-sized cargo containers, 500 covered hopper cars used to transport commodities like coal and iron ore, and 250 railcars.

The order is expected to be delivered in calendar years 2010 and 2011, the company said in a statement.

On a conference call with analysts, Greenbrier said it sees the recovery in new railcars to offset the softness in marine manufacturing.

Weak Outlook
The company, which also makes marine barges and refurbishes railroad equipment, however, forecast fourth-quarter revenue well below market estimates due to lower margins at its refurbishment and parts and marine businesses.

It also forecast a surprise loss, excluding a 50 cents a share gain related to the 2008 sale of subsidiary TrentonWorks.

Revenue and margins at the company's refurbishment and parts unit, which accounts for more than half of the company's revenue, was hit in the third quarter by a drop in volumes at its wheel services business.

Greenbrier's marine barge unit has been under pressure this year due to softness in demand. Last month, the company said it would cut production of marine barges if a top customer cancelled orders and divert jobs to railcar production.

The company will slow down its marine barge business in 2011, it said on the call. (Reuters)