Genesee & Wyoming Australia (GWA) has bought an Alice Springs intermodal freight terminal
August 2, 2012
Genesee & Wyoming Australia (GWA) has bought an intermodal freight terminal in Alice Springs.
GWA announced yesterday the purchase of the Northern Territory terminal from Asciano Services.
As part of the agreement, GWA will sell assets in the town of Cook, South Australia, including a fuel-sales business.
“GWA’s purchase of the Alice Springs facility secures ownership of an important long-term asset on the Tarcoola to Darwin rail line that will continue to be used as a primary intermodal terminal serving customers in and around Alice Springs,” a GWA statement says.
GWA says
it purchased the Alice Springs intermodal and freight terminal in June for about $9 million.
Previously, GWA had leased the rail yard from AIO.
The sale of the Cook assets and fuel business is expected to close in the third quarter of 2012.
GWA expects to receive about $4 million in pre-tax cash proceeds from the sale and recognize an after-tax book gain of about $1.3 million.
GWI owns and operates short line and regional freight railroads and provides railcar switching services in Australia, the United States, Canada, the Netherlands and Belgium.
It also operates the Tarcoola to Darwin rail line, linking the Port of Darwin to the Australian interstate rail network in South Australia.
Operations currently include 66 railroads organized in 10 regions.