Greentrains

Greentrains is a locomotive and rolling stock leasing company in Australia. It was formed in June 2008 as a subsidiary of Coote Industrial.[1]

Greentrains
IndustryRail transport
FoundedJune 2008
Headquarters
Perth
,
Australia
ServicesRolling stock leasing
$6.8m (June 2015)
$4.3m (June 2015)
ParentEngenco (ASX: EGN) 81%
Websitewww.engenco.com.au
Greentrains 80 class at Somerton in January 2009

In 2008 Coote Industrial subsidiary Gemco Rail acquired 42 locomotives and 54 wagons from the distressed Allco Finance Group that were being leased by Coote subsidiaries South Spur Rail Services and Southern & Silverton Rail.[2][3] After refurbishment it was planned to sell them to Greentrains who in turn would lease them back South Spur and Southern & Silverton.[4]

However Greentrains ran into trouble raising funds to complete the deal and by June 2010 Coote Industrial had converted its debt to equity giving it an 81% shareholding.[5][6]

As at January 2013 Greentrains owned 38 locomotives and 39 wagons.[3] In April 2016, the majority of the locomotives were sold to Southern Shorthaul Railroad.[7][8]

Fleet
LocomotiveStatus
48s37Stored
8026Stored
T383In Service, Gemco Rail South Dynon Pilot
gollark: ++delete <#457999277311131649>
gollark: ?????
gollark: ++fortune
gollark: ++help
gollark: ++delete it

References
  1. Greentrains Limited Australian Securities & Investments Commission
  2. Annual Report 30 June 2009 Coote Industrial
  3. Independent Directors unanimous recommendation in relation to Elph Pty Ltd's unconditional off-market takeover offer Archived 11 April 2013 at the Wayback Machine Engenco 16 January 2013
  4. Annual Report 30 June 2008 Archived 18 July 2009 at the Wayback Machine Coote Industrial
  5. Greentrains Funding Activities and Future Direction Archived 12 April 2013 at the Wayback Machine Greentrains 2 September 2009
  6. Annual Report 30 June 2010 Archived 12 April 2013 at the Wayback Machine Coote Industrial
  7. Disposal of Greentrains rollingstock Engenco 28 April 2016
  8. "Greentrans rollingstock sold to Holdco Holdings" Railway Digest June 2016 page 6
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.