Wednesday, August 01, 2012

GWI Australia buys key freight terminal

Greenwich, Conn.-based Genesee & Wyoming Inc. announced Wednesday that subsidiary Genesee & Wyoming Australia Pty Ltd. (GWA) purchased an intermodal and freight terminal in Alice Springs, Northern Territory, from Asciano Services Pty Ltd. (AIO). As part of the transaction GWA is selling AIO a fuel sales business and other assets in the township of Cook, South Australia.

The U.S. parent company said purchase of the Alice Springs facility, which GWA formerly leased, "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."

The township of Cook, which GWA's corporate predecessor acquired as part of the purchase of Australian National's freight assets in 1997, is located between Port Augusta and Kalgoorlie on the interstate rail network controlled by Australia's Commonwealth Government.