CAPEX Programme Update: 10,000 railcars delivered and successfully deployed
Globaltrans Investment PLC (the “Company” and together with its consolidated subsidiaries “Globaltrans” or the “Group”), (LSE ticker: GLTR) today announces that it has received delivery of the 10,000 railcars contracted as part of its CAPEX programme announced in December 2011 and that all these railcars have now been deployed in the Group’s operations. In addition, the Group has contracted for an additional 958 railcars with delivery expected by the end of August 2012.
The recent acquisition of Metalloinvesttrans, which owns 8,256 railcars, along with the combined railcar purchases of 10,958 railcars referred to above, will have increased the Group's owned fleet by 47% from the end of 2011.
Sergey Maltsev, Chief Executive Officer of Globaltrans, commented:
“I am pleased to report that all the railcars which have been received to date have been successfully deployed in revenue-generating activities within the Group’s fleet. We see continuous demand for our services driven both by the quality of our fleet and the high level of service we are able to provide. Our increased scale combined with our proven track record of resilient performance will enable us to further capitalise on growth opportunities in the Russian freight rail market.”
Globaltrans Investor Relations
+357 25 503 153
For international media
Holloway & Associates
Laura Gilbert / Zoe Watt
+44 20 7240 2486
NOTES TO EDITORS
Globaltrans is a leading private freight rail transportation group with operations in Russia, the CIS countries and the Baltic countries and the first such group to have an international listing. Globaltrans Investment PLC is incorporated in Cyprus with operating subsidiaries located in Russia, Ukraine and Estonia. The Group provides freight rail transportation, railcar leasing, and certain ancillary services to clients in Russia, the CIS countries and the Baltics. Globaltrans' global depositary receipts (ticker symbol: GLTR) have been listed on the Main Market of the London Stock Exchange since May 2008.
To learn more about 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.
Based on delivered and contracted railcars along with those acquired through the Metalloinvesttrans acquisition as at 30 June 2012 (excluding 539 railcars contracted as part of the Group’s CAPEX programme announced in December 2011 and delivered by the end of 2011) compared with the Group’s owned fleet as at 31 December 2011. Owned fleet is defined as rolling stock fleet owned and leased in under finance lease as of the end of the period (it includes railcars and locomotives unless otherwise stated).