FreightCar America to close plant in Pennsylvania

FreightCar America Inc. announced that it would close its manufacturing facility located in Johnstown, Pa., which employs about 390 employees. This action does not involve a closure of the company's Johnstown administrative offices.

FreightCar estimated that it would record a pre-tax restructuring and impairment charge during the fourth quarter of 2007 of about $34.3 million ($21.2 million, net of tax) in connection with the closure of the Johnstown manufacturing facility and cessation of operations at the facility.

The company expects the manufacturing capacity at its other two existing plants – in Danville, Ill., and Roanoke, Va. – to be sufficient to meet its requirements for the next several years.