Toll Holdings
Encyclopedia
Transport
Transport or transportation is the movement of people, cattle, animals and goods from one location to another. Modes of transport include air, rail, road, water, cable, pipeline, and space. The field can be divided into infrastructure, vehicles, and operations...
company, based in Melbourne
Melbourne
Melbourne is the capital and most populous city in the state of Victoria, and the second most populous city in Australia. The Melbourne City Centre is the hub of the greater metropolitan area and the Census statistical division—of which "Melbourne" is the common name. As of June 2009, the greater...
, Victoria. The company has operations in road
Road
A road is a thoroughfare, route, or way on land between two places, which typically has been paved or otherwise improved to allow travel by some conveyance, including a horse, cart, or motor vehicle. Roads consist of one, or sometimes two, roadways each with one or more lanes and also any...
, rail
Rail transport
Rail transport is a means of conveyance of passengers and goods by way of wheeled vehicles running on rail tracks. In contrast to road transport, where vehicles merely run on a prepared surface, rail vehicles are also directionally guided by the tracks they run on...
, sea
Sea
A sea generally refers to a large body of salt water, but the term is used in other contexts as well. Most commonly, it means a large expanse of saline water connected with an ocean, and is commonly used as a synonym for ocean...
and air
Aviation
Aviation is the design, development, production, operation, and use of aircraft, especially heavier-than-air aircraft. Aviation is derived from avis, the Latin word for bird.-History:...
in 55 countries.
For the fiscal year ending June 2010, Toll reported net income of A$292.9 million on A$6.9 billion of sales revenue. It has many enterprise bargaining agreement
Enterprise bargaining agreement
Enterprise bargaining is wage and working conditions being negotiated at the level of the individual organisations. Once established, they are legally binding on employers and employees....
s with the Transport Workers Union
Transport Workers Union of Australia
The Transport Workers Union of Australia is a trade union with over 80,000 members throughout Australia. It has 5 main branches in Australia* Australian Capital Territory/New South Wales* Queensland* Victoria/Tasmania...
, covering its road transport and warehouse distribution operations.
History
The Toll business was founded in 1888 by Albert Toll in Newcastle hauling coal with horse and cart. It became part of the Peko Wallsend Group in the 1960s when it transported goods associated with diversified mining and manufacturing activities.In 1986 Toll was sold to a management buyout team led by current Managing Director Paul Little
Paul Little (CEO)
Paul Little is the managing director of Toll Holdings, the Asian region's leading integrated logistics provider.He purchased the business Toll Holdings for $1.5 million in 1986, when it had revenues of $21 million.-External links:*...
and Toll's first Chairman Peter Rowsthorn, and in 1993 Toll listed on the 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....
.
Timeline
- 1888 The company was founded in Newcastle, Australia.
- 1960 After the death of its founder, Albert TollAlbert TollAlbert Toll is the founder of Australia and New Zealand's largest transport company, Toll Holdings and Toll NZ. He formed the company in 1888, when he hauled coal with a horse and a cart. The Toll Group is now Australia's largest transport and logistics provider.-External links:***...
, the company was sold to National Minerals Limited. - 1985 The company became Toll Transport
- 1986 A management buyout team led by Paul LittlePaul Little (CEO)Paul Little is the managing director of Toll Holdings, the Asian region's leading integrated logistics provider.He purchased the business Toll Holdings for $1.5 million in 1986, when it had revenues of $21 million.-External links:*...
and Peter Rowsthorn takes control of the company. - 1993 Listed as a public company on the Australian Stock ExchangeAustralian Stock ExchangeThe 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....
- 1995 Various acquisitions of Australian transport companies, including parts of Brambles Transport, JN Transport
- 1997 Acquired TNT LogisticsTNT LogisticsCEVA Logistics is a global logistics company.It provides solutions in freight management, contract logistics, distribution and transportation management. The company runs a global network with facilities in over 170 countries and employs more than 49,000 people worldwide.- History :CEVA was...
(TNT). - 1998 Purchases Interstate Parcel Express Company.
- 1999 Sales growing by 52%, attaining major contracts with the distributors of Coca Cola
- 2001 Acquired Finemore Holdings
- 2001 Acquired Autotrans Car Transport based in Western Australia
- 2001 Acquired Wesfarmers Transport based in Western Australia
- 2002 Partnership with Patrick CorporationPatrick CorporationPatrick 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...
for Pacific NationalPacific NationalPacific 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 - 2003 Acquired New Zealand rail and trucking group Tranz RailTranz RailTranz Rail, formally Tranz Rail Holdings Ltd , was the main rail operator in New Zealand from 1991 until it was purchased by Toll Holdings in 2003.- Formation :...
(now Toll NZToll NZToll Group Limited is a New Zealand trucking company. A subsidiary of the Australian company Toll Holdings, it has its headquarters in Auckland. It carries out operations by road and in the air, and formerly by rail and sea....
), and Tasmanian rail operator TasRailTasRailTasrail was the brand name of the Australian National Railways Commission's operations on the mainline railways in Tasmania, formed when Australian National absorbed the former Tasmanian Government Railways in 1978...
as part of Pacific NationalPacific NationalPacific 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....
. - 2005 Acquired New Zealand trucking company JD Lyons.
- 2006 Acquired Singaporean logistics company SembCorp LogisticsSembCorp LogisticsSembCorp Logistics Limited is a logistics company previously linked to SembCorp Industries based in Singapore. It was acquired by Australian transport giant, Toll Holdings in May 2006....
(SembLog) - 2006 Acquired Patrick CorporationPatrick CorporationPatrick 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...
after a long and acrimonious takeover battle. - 2007 Announced proposed acquisition of Hong Kong based freight forwarder BALtrans Holdings as part of the company's continued expansion into Asia.
- 2008 Acquired United Carriers based in New Zealand
- 2008 Acquired Gluck based in Melbourne
- 2008 Acquired Extra Transport based in MelbourneMelbourneMelbourne is the capital and most populous city in the state of Victoria, and the second most populous city in Australia. The Melbourne City Centre is the hub of the greater metropolitan area and the Census statistical division—of which "Melbourne" is the common name. As of June 2009, the greater...
- 2008 Announces contract to manage KenyaKenyaKenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
-Uganda RailwayUganda RailwayThe Uganda Railway is a railway system and former railway company linking the interiors of Uganda and Kenya with the Indian Ocean at Mombasa in Kenya.-Origins:... - 2009 Acquired BIC Logistics India
- 2009 Acquired ST-Anda Logistics headquartered in Shanghai
- 2009 Acquired Perkins Shipping based in DarwinDarwin, Northern TerritoryDarwin is the capital city of the Northern Territory, Australia. Situated on the Timor Sea, Darwin has a population of 127,500, making it by far the largest and most populated city in the sparsely populated Northern Territory, but the least populous of all Australia's capital cities...
- 2009 Acquired the Asian operations of Deltec, Kwikmail and Skynet
- 2009 Acquired Express Logistics Group based in New Zealand
- 2010 Acquired Summit Logistics International based in New Jersey
- 2010 Acquired DPEX Group from Qantas
- 2010 Acquired WT Sea Air Group based in the United Kingdom
- 2010 Acquired Genesis Forwarding Group based in the United Kingdom
Feud with Patrick Corporation
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 project were used as slanging matches by Patrick and Toll directors.
The process included several court cases brought by each side.
On 19 January 2006, the ACCC
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...
ruled that Toll cannot take Patrick over.
On 13 March 2006, the ACCC announced that it accepted Toll's proposed court-enforceable undertakings and would no longer object to the takeover. However the share markets appeared to require that a higher price would need to be offered.
On 14 April 2006, Toll announced that it would offer 0.4 Toll shares plus A$3.00 for each Patrick Corporation share. The Patrick board unanimously accepted the revised offer. All ongoing legal proceedings between the two companies were to be dropped and Patrick would no longer acquire FCL Interstate Transport. By purchasing Patrick, Toll will be the fourth largest transport company in the world and have annual revenues of over 8 billion
The takeover was finally successful in May 2006. Toll gained control of Patrick on 11 May 2006 and announced intent to compulsorily acquire the remaining shares in Patrick.
2007 Restructure and demerger
As part of the agreement with the Australian Competition and Consumer CommissionAustralian 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...
over the acquisition of Patrick, Toll was required to dispose of several assets. It sold Patrick's Bass Strait Shipping and Tasmanian Freight Forwarding businesses to the Chas Kelly Transport Group. It was originally required to also sell half 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....
, however, in 2007 Toll proposed a "variation" to separate Toll into separate logistics and infrastructure companies. Toll sought and received permission to retain complete ownership of Pacific National in the new Infrastructure Company provided that there was a complete separation of the boards and management of the two companies and all contracts between them were on an arm's length basis. The Infrastructure Company is today known as Asciano Limited
Asciano Limited
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...
.
See also
- Toll Aviation
- Toll IPECToll IPECToll IPEC is a major national logistics company headquartered in Melbourne, Australia, with operations in major capital and regional cities and towns around Australia. Toll IPEC is a wholly owned subsidiary of Toll Holdings.- History :...
- Toll PriorityToll PriorityToll Priority is a logistics company and cargo airline based in Mascot, New South Wales, Australia with operations from Melbourne, Sydney , Brisbane, Adelaide, Perth, Canberra and Darwin....
- Toll NZToll NZToll Group Limited is a New Zealand trucking company. A subsidiary of the Australian company Toll Holdings, it has its headquarters in Auckland. It carries out operations by road and in the air, and formerly by rail and sea....
- Toll Royal Railways
- Toll ShippingToll ShippingToll Shipping, part of Toll Holdings, operates shipping services between the island of Tasmania and mainland Australia. It also once operated ferries in New Zealand.-History:...
- Asciano LimitedAsciano LimitedAsciano 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...