IFC continues to support Globaltrans’ strategy of growth
Globaltrans Investment PLC (“Company” and together with its consolidated subsidiaries “Globaltrans”, or the “Group”), (LSE ticker: GLTR) today announces that IFC, a member of the World Bank Group, is providing Globaltrans with a $30 million loan to partially finance expansion of the Group’s rolling stock fleet. This is IFC’s second loan to Globaltrans, in 2003 IFC extended $40 million of debt financing to support expansion of the Group’s rail tank car and locomotive fleets.
Sergey Maltsev, Chief Executive Officer of Globaltrans, said, “We are pleased to take this new step in our partnership with IFC. This transaction represents a vote of confidence from IFC in Globaltrans and sets a positive precedent for future investments in Russia’s infrastructure”.
Rashad Kaldany, IFC Vice President for Asia, Eastern Europe, Middle East and North Africa, said, “We are very pleased to continue supporting our long-term strategic partner, Globaltrans, to aid the development of rail freight transportation infrastructure, which is extremely important for economic recovery and growth in Russia. Through this project, we will not only expand supply of transportation services, but also support employment and production capacity at railcar manufacturers in Russia and neighboring countries.”
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 privately owned freight rail transportation group with operations 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.
As of the end of 2009 Group’s fleet of rolling stock owned and leased under finance and operating leases amounted to 37,217 units, including 18,846 rail tank cars, 17,821 gondola cars, 60 locomotives and 490 other railcars.
The Group’s freight rail turnover in 2009 amounted to 80.9 billion tonnes-km with 52.8 million tonnes of freight transported. In 2009 the Group’s Adjusted Revenue achieved USD 685.3 million with Adjusted EBITDA in amount of USD 284.5 million.
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.
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.