Asciano Limited
Encyclopedia
Asciano Limited is an Australian transport infrastructure and operations company. It was split out of Toll Holdings
in June 2007. The incoming CEO
is John Mullen who will begin on 14 February 2011. The outgoing CEO Mark Rowsthorn
will be with the company until mid 2011. 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.
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.
On 22 April, 2008, Asciano 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.
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.
Toll Holdings
TOLL , properly TOLL Holdings Limited, is Australia's largest transport company, based in Melbourne, Victoria. The company has operations in road, rail, sea and air in 55 countries....
in June 2007. The incoming CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
is John Mullen who will begin on 14 February 2011. The outgoing CEO Mark Rowsthorn
Mark Rowsthorn
Mark Rowsthorn is an Australian businessman in the transport industry. He serves as the Chairman of Toll NZ, New Zealand's largest transport company. He was recently the CEO of one of Australia's largest transport company, Asciano Limited.- Biography :...
will be with the company until mid 2011. Major assets of the company include four container ports in Australia (formerly owned by Patrick Corporation
Patrick Corporation
Patrick Corporation Ltd was an Australian publicly listed logistics conglomerate. Headed by CEO Chris Corrigan before it was absorbed by Toll Holdings in 2006, Patrick had interests in shipping, rail and aviation, including a 62% shareholding in airline Virgin Blue...
before it was taken over by Toll), and Pacific National
Pacific National
Pacific National is one of Australia's largest private rail freight businesses. Originally a joint venture between Patrick Corporation and Toll Holdings; it is now a wholly owned subsidiary of Asciano Limited following the restructure of Toll Holdings....
rail company.
History
On 13 December 2006 Toll HoldingsToll Holdings
TOLL , properly TOLL Holdings Limited, is Australia's largest transport company, based in Melbourne, Victoria. The company has operations in road, rail, sea and air in 55 countries....
announced its intention to restructure the Toll Group into two market leading, ASX
Australian Stock Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
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
Australian Stock Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
on 6 June 2007.
As part of the restructure Asciano become the owner of a unique transport infrastructure portfolio, including 100% of Pacific National
Pacific National
Pacific National is one of Australia's largest private rail freight businesses. Originally a joint venture between Patrick Corporation and Toll Holdings; it is now a wholly owned subsidiary of Asciano Limited following the restructure of Toll Holdings....
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
Australian Competition and Consumer Commission
The Australian Competition and Consumer Commission is an independent authority of the Australia government. It was established in 1995 with the amalgamation of the Australian Trade Practices Commission and the Prices Surveillance Authority to administer the Trade Practices Act 1974...
(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.
On 22 April, 2008, Asciano and 7 Saudi partners were on the cusp of signing a BOOT
Build-Operate-Transfer
Build-own-operate-transfer or build-operate-transfer is a form of project financing, wherein a private entity receives a concession from the private or public sector to finance, design, construct, and operate a facility stated in the concession contract...
deal to build the Saudi Landbridge
Land bridge (disambiguation)
The term "land bridge" may refer to:-* In biogeography, a land bridge is a land connection between what at other times are separate land masses, which allows animals and plants to cross....
railway connecting Riyadh
Riyadh
Riyadh is the capital and largest city of Saudi Arabia. It is also the capital of Riyadh Province, and belongs to the historical regions of Najd and Al-Yamama. It is situated in the center of the Arabian Peninsula on a large plateau, and is home to 5,254,560 people, and the urban center of a...
and Jeddah
Jeddah
Jeddah, Jiddah, Jidda, or Jedda is a city located on the coast of the Red Sea and is the major urban center of western Saudi Arabia. It is the largest city in Makkah Province, the largest sea port on the Red Sea, and the second largest city in Saudi Arabia after the capital city, Riyadh. The...
and Damman.
Predecessors
Asciano’s presence in the ports and rail sector has developed from Toll HoldingsToll Holdings
TOLL , properly TOLL Holdings Limited, is Australia's largest transport company, based in Melbourne, Victoria. The company has operations in road, rail, sea and air in 55 countries....
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
Port of Geelong
The Port of Geelong is located on the shores of Corio Bay in Geelong, Victoria, Australia. The port is the sixth-largest in Australia by tonnage....
(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
BHP Billiton
BHP Billiton is a global mining, oil and gas company headquartered in Melbourne, Australia and with a major management office in London, United Kingdom...
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
National Rail Corporation
The National Rail Corporation was a rail operator in Australia. The Australian Government, New South Wales and Victoria established the National Rail Corporation in 1992...
and FreightCorp to form Pacific National
Pacific National
Pacific National is one of Australia's largest private rail freight businesses. Originally a joint venture between Patrick Corporation and Toll Holdings; it is now a wholly owned subsidiary of Asciano Limited following the restructure of Toll Holdings....
as a joint venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
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.