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.
On 22 April 2008, Asciano and 7 Saudi partners were on the cusp of signing a BOOT deal to build the Saudi Landbridge Project, a railway to connect Riyadh, Jeddah and Damman.
Read more about this topic: Asciano Limited
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