.comment-link {margin-left:.6em;}

all things tasmanian

food - wine - wilderness - culture - art - craft - accommodation - tourism - events - attractions - politics - green things - development - economy - social - mary mania -industry - news - happenings - people - weather - nature - history - creatives - thinkers - science - innovators ... et al ... and the list goes on ... & on ... anon ... in this timeless island

<

Monday, January 23, 2006

Patrick to seek to end Pacific National joint venture. 24/01/2006. ABC News Online

Patrick to seek to end Pacific National joint venture. 24/01/2006. ABC News Online

Tasmanian exporters face yet another complication with rail freight company Pacific National.
One of the half-owners of Pacific National, Patrick Corporation, is to seek approval in the Victorian Supreme Court this week to end its joint venture with Toll Holdings.
Tensions between the two transport companies reached a flash-point last week, when the Australian Competition and Consumer Commission (ACCC) rejected Toll's $4 billion hostile takeover of Patrick.
Patrick says it has lost trust and confidence in its partner and that Pacific National has become dysfunctional.
Tasmanian Freight Logistics Council spokesman Jim McCormack says there must now be uncertainty about the $118 million Commonwealth-State funding package to keep Pacific National in Tasmania on the rails.
"One or other, or both governments will become fed up and say 'you've got a deadline now and you need to respond by such and such a date', and I would think that would be a legitimate position for either government to make, given that Pacific National claimed this was urgent when they first made the request in October last year," he said.

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home