GREYHOUND RESOURCES SOLD TO SKYBUS-KINETIC

By: Fabian Cotter, Photography by: courtesy Kinetic


BREAKING: Mining bus giant Greyhound Resources is set to be sold to Kinetic (née, Skybus) following the execution of a contract to acquire the Mackay, Queensland, operator’s 170-vehicle fleet earlier this week, Kinetic confirms.

GREYHOUND RESOURCES SOLD TO SKYBUS-KINETIC
The Greyhound Resources transaction to Kinetic is subject to conditions precedent including regulatory approval and is expected to complete March/April, 2021.

The move – which does not include the Greyhound Australia business operating separate passenger coach services across Australia – would see Kinetic acquire the largest resources (mining) bus operator in Queensland, delivering 179 contracted ‘busing routes’ across 29 sites, with services including airport to resources project transfers, dry hire and charter services. 

It should be noted Greyhound Resources operates in the Bowen Basic, Hunter Valley, Olympic Dam and Darwin with key clients including BHP, Anglo American and Conoco Phillips.  

The acquisition will bolster Kinetic’s existing capabilities keeping major industries moving, which already includes delivering highly contracted specialist busing solutions for aviation and government departments and authorities, the company explains.

"Governments, airports, schools and communities across Australia count on us every day to run bus networks that exceed performance and safety standards," says Kinetic head of Australia, Matthew Carney.

"The resources sector is no different with reliable, safe and comfortable bus services essential to the success of large, long-life resources projects – and Greyhound Resources has demonstrated 15 years’ experience delivering just that for industry-leading clients," Carney stated.

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ONGOING COMMITMENT

The announcement demonstrates Kinetic’s ongoing commitment to investing in Queensland, it states.

Kinetic also operates government-contracted urban and regional bus services, private and government-contracted school services and charter services, it explains. 

Collectively, Kinetic is one trusted network with more than 3000 buses and 4000 people delivering 50 million passenger trips annually, it confirms. 

Greyhound Resources GM of Operations, James Smith, says the company would continue to provide essential services supporting an important sector of Australia’s economy. 

"Over the past decade we have expanded our footprint into key regions in the resources sector with our commitment to delivering safe and trusted transport, and with Kinetic’s mass transit leadership we will continue to exceed performance standards," Smith said. 

The transaction is subject to conditions precedent including regulatory approval and is expected to complete in March/April, 2021.

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GREYHOUND AUSTRALIA

As stated earlier, this acquisition does not include the Greyhound Australia brand and business, which is being retained by the existing shareholders and will continue to independently operate Australia’s largest national coach network connecting all mainland states and territories, Greyhound clarifies. 

Greyhound Australia’s business values and ‘feel the heart of Australia brand’ will continue on a business-as-usual basis, with continued focus on bringing joy to travel in Australia, according to Greyhound Australia CEO Alex de Waal.

"The sale of the Greyhound Resources business will allow our existing shareholders and Express management team to focus on the optimisation and growth of the Express network," Mr de Waal said.

The Greyhound Resources business will operate on a transitional basis under the direction of existing shareholders from now until transfer of the Greyhound Resources business to Kinetic on or around 1 April, 2021. 

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