Greentrains

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Greentrains
Industry Rail transport
Founded June 2008
Headquarters Perth, Australia
Services Rolling stock leasing
$6.8m (June 2015)
$4.3m (June 2015)
Parent Engenco (ASXEGN) 81%
Website www.engenco.com.au
Greentrains 80 class at Somerton in January 2009

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

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][9]

Fleet[edit]

Locomotive Status
48s37 Stored
8026 Stored
T383 Stored

References[edit]

  1. ^ Greentrains Limited Australian Securities & Investments Commission
  2. ^ Annual Report 30 June 2009 Coote Industrial
  3. ^ a b Independent Directors unanimous recommendation in relation to Elph Pty Ltd's unconditional off-market takeover offer Engenco 16 January 2013
  4. ^ Annual Report 30 June 2008 Coote Industrial
  5. ^ Greentrains Funding Activities and Future Direction Greentrains 2 September 2009
  6. ^ Annual Report 30 June 2010 Coote Industrial
  7. ^ Disposal of Greentrains rollingstock Engenco 28 April 2016
  8. ^ Disposal of Greentrains rollingstock Engenco 28 April 2016
  9. ^ "Greentrans rollingstock sold to Holdco Holdings" Railway Digest June 2016 page 6