In response to the Aurizon ASX announcement today Pacific National is pleased to announce a binding agreement with Aurizon to purchase the Acacia Ridge Intermodal Terminal in Brisbane, Queensland.
This transaction includes the transfer of 30 Aurizon employees, as well as assets, commercial and operational arrangements.
“The Acacia Ridge Terminal supports Pacific National’s goal of providing consistent and reliable freight rail services to our customers,” Pacific National’s CEO Dean Dalla Valle said.
He said the Acacia Ridge Terminal supplements Pacific National’s national network of terminals and provides security for Pacific National’s interstate operations out of the terminal for the long
Separately Pacific National has signed a binding agreement to buy the Aurizon Queensland Intermodal business as part of a consortium with Linfox.
This transaction includes the transfer of approximately 350 Aurizon employees, as well as assets, commercial and operational arrangements to the Linfox and Pacific National consortium.
The parties are aiming to finalise these transaction by the end of FY2018, both transactions are subject to:
Approval by the Australian Competition & Consumer Commission
Approval by the Foreign Investment & Review Board
“Queensland Intermodal supports PN’s strategic objective to grow in important markets and allows for PN to offer new northbound services and southbound services within Queensland on day one,” Mr Dalla Valle said.