Asciano Limited

Infobox_Company
company_name = Asciano Limited
company_
company_type = public (asx|AIO)
foundation = Demerger from Toll Holdings - 2007
location = Melbourne, Victoria, Australia
key_people = Tim Poole, Chairman
Mark Rowsthorn, CEO
Don Telford, COO
Austen Perrin, CFO
industry = Transport
products = Pacific National
Patrick Corporation
homepage = [http://www.asciano.com.au/ http://www.asciano.com.au]

Asciano Limited (asx|AIO) is an Australian transport infrastructure and operations company. It was split out of Toll Holdings in June 2007. The CEO is Mark Rowsthorn. Major assets of the company include four container ports in Australia (formerly owned by Patrick Corporation before it was taken over by Toll), and Pacific National rail company.

History

On 13 December 2006 Toll Holdings announced its intention to restructure the Toll Group into two market leading, ASX listed entities – Toll and Asciano. In essence the restructure would lay the foundation for continued growth by separating its transport infrastructure assets from its network and supply chain business. The overarching objective of the restructure was to maximise shareholder value.

Asciano Limited was listed on the Australian Stock Exchange on 6 June 2007.

As part of the restructure Asciano become the owner of a unique transport infrastructure portfolio, including 100% of Pacific National and the Patrick container ports as well as the combined port operations and stevedoring businesses of Toll and Patrick Corporation.

In 2008 the Australian Competition and Consumer Commission (ACCC) revoked Asciano's exclusive equipment contract with the Port of Geelong. The ACCC found that the compulsory use of Asciano cranes for dry bulk and fertiliser unloading was anti-competitive, and that the negative effects of the arrangement outweighed any productivity improvements derived from use of a single equipment type. [cite news|title =ACCC seeks to revoke dictated Geelong Port equipment use | work =Lloyd's List Daily Commercial News | publisher = | date =2008-02-08 | url =http://www.lloydslistdcn.com.au/informaoz/LLDCN/home.jsp?source=wire&var_sect=News&art_id=1202338727484 | accessdate =2008-02-08 ]

On 22 April, 2008, Asiciano and 7 Saudi partners were on the cusp of signing a BOOT deal to build the Saudi Landbridge railway connecting Riyadh and Jeddah and Damman. [ Daily Telegraph, 22 April 2008 p29 ] [ [http://www.railwaygazette.com/news_view/article/2008/04/8365/saudi_landbridge_preferred_bidder_named.html?tx_ttnews%5BbackPid%5D=83&cHash=c374140674 Railway Gazette: Saudi Landbridge preferred bidder named ] ]

Predecessors

Asciano’s presence in the ports and rail sector has developed from Toll Holdings initial collection of regional port facility management and stevedoring businesses into an extensive network of general port and stevedoring operations and nationwide freight rail businesses. Its first major port facility investment was the purchase of the operating rights to the Port of Geelong (together with a 30% investment in the ownership vehicle) in 1997. With the acquisition of the privately owned Strang Stevedoring business in 2001, stevedoring services were extended to include Portland, Melbourne (general and automotive import and exports) and Newcastle.

In 2002, the acquisition of BHP Stevedoring added operations in Port Kembla and Western Port in Australia and Tauranga, Napier and Lyttelton ports in New Zealand. Further stevedoring acquisitions from 2003 to 2005 in New Zealand and Australia strengthened the stevedoring business.

Toll entered into the rail industry in 1996 with the establishment of Toll Rail and then in 2002 acquired National Rail Corporation and FreightCorp to form Pacific National as a joint venture between Toll and Patrick Corporation. Pacific National is now one of Australia’s leading rail freight operators.

In 2006 Toll acquired Patrick Corporation, gaining ownership of Patrick Corporation’s Container Terminal operations, PortLink and Port Services businesses, and extensive general stevedoring operations, along with the remaining 50% of Pacific National.

The $8 billion transport infrastructure assets and operations acquired by Toll Holding’s over the past decade are now owned and controlled by Asciano Limited.

References

External links

* http://www.asciano.com.au/