The Greenbrier Companies Inc. announced last month that it had completed the sale of its Gunderson Marine operations to Oregon Green Manufacturing LLC (OGM).
The purchase included Gunderson Marine's 58-acre industrial waterfront site in Portland, Ore. The acquisition by OGM preserves approximately 300 jobs at Gunderson. Other terms of the transaction were not disclosed.
OGM was recently formed by two Oregon manufacturers and businessmen, Terrence Aarnio and Marvin Burch. Aarnio was the chairman and majority owner of Oregon Iron Works Inc. until its acquisition by Vigor Industrial in 2014. Burch is the president of Advanced American Construction (AAC).
OGM plans to continue operations at Gunderson Marine, the vessel fabrication business that Greenbrier reopened at Front Avenue in Portland in 1995. Vessel construction had previously occurred on the site from 1947-1985. Operating from the largest side launchways on the West Coast, Gunderson Marine is accessible year-round for oceangoing vessels. The location has a history of over 100 years, starting as a steel fabricator before transitioning to freight railcar and marine barge manufacturing.
OGM signed a non-competition agreement for Greenbrier's core business of freight railcar-related products and services. Greenbrier previously announced the cessation of railcar manufacturing activity at the facility.
"The transition of Gunderson Marine and the Front Avenue site leaves us encouraged but also with a heavy heart,” Lorie Tekorius, Greenbrier's CEO and president, said in a statement announcing the sale. “Greenbrier was founded in Oregon and remains an Oregon-headquartered company with operations now on three continents. We have been a steward of the Gunderson location since entering railcar manufacturing in 1985. The facility holds a special place in the life of Portland and Oregon. Ensuring the continued employment of our dedicated workforce was a priority in selecting a buyer for Gunderson Marine. We know Terry, Dee and their team share Greenbrier's community and people-first mindset, which will be a principal focus as OGM moves forward."
“We look forward to making investments in product development and infrastructure enhancements," Aarnio said. "Greenbrier and OGM share the same vision. We value innovation, customer service and delivery of high-quality products."
"Terry and I expect to expand and diversify our operations on Front Avenue,” Burch added. “We have decades of combined experience in the industrial space, including manufacturing, construction and technology. The facility is a premier location for a range of energy efficiency and infrastructure fabrication projects supported by recently enacted federal funding which we will actively pursue. The potential to build on the barge business and add other business lines is unmatched at any manufacturing facility on the West Coast."