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FreightCar America appoints new President and Chief Executive Officer

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Dry Bulk,

FreightCar America, Inc. (NASDAQ:RAIL) has announced that its Board of Directors has appointed James R. Meyer as President and Chief Executive Officer, effective 31 July, 2017. Mr. Meyer will succeed Joseph E. McNeely, who will leave the company by mutual consent to pursue new opportunities.

Mr. Meyer, 56, has nearly 30 years of experience in the heavy equipment, automotive and consumer goods industries. He joins the company from Commercial Specialty Truck Holdings, LLC, a commercial truck manufacturer, where he has served as Chairman of the Board and has been an investor and advisor since 2015. From 2012 to 2015, he served as Chief Operating Officer of Allied Specialty Vehicles, Inc., a manufacturer of specialty vehicles for the fire and emergency, commercial and recreation segments. Before that, Mr. Meyer held various leadership positions at Brunswick Corporation, a publicly held manufacturer of recreational products.  At different times from 2006 to 2012, he oversaw its Hatteras Yachts and Sealine International business units and its product development and supply chain functions. Mr. Meyer also spent 16 years at Ford Motor Company where he held various executive positions.

“We are extremely pleased to name Jim Meyer as President and CEO and have him join the Board,” said William D. Gehl, Chairman of the Board. “Jim has demonstrated outstanding leadership skills and we expect the company to benefit from his extensive industry experience and solid financial expertise. Based on his proven leadership and experience, Jim is the ideal person to guide the Company in the future and I look forward to working with him as we continue to execute on our long-term growth strategy.” Gehl continued, “On behalf of the Board, I would also like to thank Joe McNeely for his invaluable contributions to FreightCar America. We are grateful for all of his hard work and dedication and wish him all the best in his future endeavours.”

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