Greentrains
From Wikipedia, the free encyclopedia
| Industry | Rail transport |
|---|---|
| Founded | June 2008 |
| Headquarters | Perth Western Australia , Australia |
| Services | Rolling stock leasing |
| $6.8m (June 2015) | |
| $4.3m (June 2015) | |
| Parent | Engenco (ASX: EGN) 81% |
| Website | www.engenco.com.au |
Greentrains was 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 of 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] Greentrains then ceased rail leasing.
