26 July 2016
Disposal of Greentrains rollingstock
Greentrains rollingstock sale completed
Engenco Limited (ASX:EGN) (Engenco or Company), the specialist industrial engineering services group, announced on 28 April 2016 that its subsidiary company, Greentrains Limited ( Greentrains) entered into an unconditional asset sale agreement to sell its locomotive fleet to Holdco Holdings Pty Ltd, the parent entity of rail freight services company, Southern Shorthaul Railroad Pty Ltd (SSR). A selection of associated locomotive spare parts owned by Engenco subsidiary, Gemco Rail Pty Ltd, were also included in the transaction.
The Company today announces that the transaction has now completed.
Engenco's Managing Director, Kevin Pallas, said, "With the completion of the locomotive sale, we are able to further reduce our debt as we focus on more profitable parts of our business. Most of our remaining rollingstock rental fleet, mainly freight wagons, is now deployed on medium to long term rental agreements."
About Engenco LimitedEngenco (EGN) specialises in:
Maintenance, repair and overhaul of heavy duty engines, powertrain and propulsion systems
Maintenance, repair and overhaul of locomotives
Manufacture and maintenance of wagons, carriages and associated rail equipment
Project management, training and workforce provisioning services
Manufacture and supply of road transport and storage tankers for dry bulk products
Leasing of locomotives, wagons and other rail equipment
Engenco services a diverse client base across the defense, resources, marine, power generation, rail, heavy industrial and infrastructure sectors.
For further information, please contact:Kevin Pallas Managing Director and CEO T: +61 (0)3 8620 8900 E: kevin.pallas@engenco.com.au | Graeme Campbell Chief Financial Officer T: +61 (0)3 8620 8900 E: graeme.campbell@engenco.com.au |
ABN: 99 120 432 144
Level 22, 535 Bourke Street
Melbourne VICTORIA 3000
T +61 (0)3 8620 8900
F +61 (0)3 8620 8999
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www.engenco.com.au
Engenco Ltd. published this content on 27 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 August 2016 11:09:06 UTC.
Original documenthttp://www.engenco.com.au/fileadmin/docs/asx/FY_2017/2016_07_26_ASX_EGN_CompletionofDisposalofGreentrainsRollingstock.pdf
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