Globaltrans contracts for 3,000 gondola (open top) cars to be delivered in 2010
Globaltrans Investment PLC (“Globaltrans” or together with its consolidated subsidiaries the “Group”), (LSE ticker: GLTR), today announces that its subsidiary OAO “New Forwarding Company” has on 24 December 2009 entered into an agreement with ZAO “Uralskaya Bolshegruznaya Tekhnica – Uralwagonzavod” for the supply of 3,000 gondola (open top) cars for a total consideration of RUB 4.4 billion (USD144.5 million*) including VAT. The contract stipulates delivery of railcars in the first half of 2010. In addition, the Group has an option to purchase additional 3,000 gondola (open top) cars in 2010.
Commenting on this agreement, Sergey Maltsev, CEO of Globaltrans, said:
“This is a momentous event for us and an important step in direction of delivering of our strategy, which was supported by our existing and new shareholders during our recent equity offering. Our expansion will further extend our leadership in the Russian private freight rail transportation sector and enable us to reinforce our market positions”.
Globaltrans Investor Relations
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NOTES TO EDITORS
Globaltrans (Globaltrans Investment PLC together with its subsidiaries - "Globaltrans" or "the Group") is the largest private freight rail transportation group operating in Russia by the size of owned rolling stock fleet (based on publicly available information) and the first and only such group to have an international listing.
Globaltrans Investment PLC is incorporated in Cyprus and has operating subsidiaries in Russia, Ukraine and Estonia. The Group provides freight rail transportation, railcar leasing, and certain ancillary services to more than 450 clients in Russia, the CIS countries and the Baltics.
Following the acquisition of OOO BaltTransServis in December 2009, the Group’s fleet totalled 36,033** units of rolling stock.
Globaltrans' global depositary receipts are listed on the Main Market of the London Stock Exchange under the ticker GLTR since May 2008.
To learn more on Globaltrans, please visit www.globaltrans.com.
*calculated by applying the official exchange rate of the US Dollar against the Rouble as set by the Central Bank of the Russian Federation at 24 December 2009.
**defined as the simple sum of Globaltrans and OOO BaltTransServis fleets of rolling stock (owned and leased under finance and operating leases as of 30 June 2009).
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of Globaltrans. You can identify forward-looking statements by terms such as ‘expect’, ‘believe’, ‘anticipate’, ‘estimate’, ‘intend’, ‘will’, ‘could’, ‘may’ or ‘might’, the negative of such terms or other similar expressions. Globaltrans wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Globaltrans does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Globaltrans, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries Globaltrans operates in, as well as many other risks specifically related to Globaltrans and its operations.