Greentrains

Greentrains was a locomotive and rolling stock leasing company in Australia.

[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.

[3] In April 2016, the majority of the locomotives were sold to Southern Shorthaul Railroad.