Logistics giant says purchase will aid development of Newcastle ‘pit to port’ logistics capability
November 1, 2013
Intermodal logistics giant Asciano has acquired leading Newcastle-based bulk haulage firm Mountain Industries.
Purchased for an undisclosed sum and now part of Asciano’s Patrick Ports and Stevedoring division, Mountain Industries will continue to operate as an independent business.
In a clue to its attraction for the new parent, Asciano says Mountain Industries will “aid the development of Australia’s first ‘pit to port’ logistics capability in Australia’s key resources and export markets, particularly at Kooragang Island” in Newcastle.
“This investment will expand the capabilities of our Ports and Stevedoring division, providing access to a large group of blue-chip customers, strong existing management and a footprint across some of the key bulk haulage centres on Australia’s eastern seaboard,” Patrick Director Philip Tonks says.
“In addition to positioning our business in key long-term commodities, industrial and agricultural growth markets, the acquisition will expand our stevedoring and logistics operations on Australia’s east coast, build our capabilities in bulk haulage and handling and create new opportunities to further leverage the complementary strengths of our rail, port and landside logistics businesses.”
Mountain Industries CEO Keith Morgan sees the acquisition as supporting growth for both businesses.
“We look forward to the integration and enhancement of current services delivered to shared major customers and the ongoing development of new opportunities across the New South Wales, Queensland, Victoria and South Australian markets,” Morgan says.
The acquisition has been made on a cash free, debt free basis and includes transfer of the freehold title over four operational sites currently owned by Mountain Industries, which is involved in the containerised, general cargo and bulk commodity export markets, including providing transport, storage, intermodal and distribution services.
