Pacific National
Overview
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
's largest private rail freight businesses. Originally a joint venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
between Patrick Corporation
Patrick Corporation
Patrick 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...
and Toll Holdings
Toll Holdings
TOLL , properly TOLL Holdings Limited, is Australia's largest transport company, based in Melbourne, Victoria. The company has operations in road, rail, sea and air in 55 countries....
; it is now a wholly owned subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
of 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...
following the restructure of Toll Holdings
Toll Holdings
TOLL , properly TOLL Holdings Limited, is Australia's largest transport company, based in Melbourne, Victoria. The company has operations in road, rail, sea and air in 55 countries....
.
In February 2002, the mainly Australian Government-owned National Rail Corporation
National Rail Corporation
The National Rail Corporation was a rail operator in Australia. The Australian Government, New South Wales and Victoria established the National Rail Corporation in 1992...
's freight operations and rollingstock were combined with the New South Wales
New South Wales
New South Wales is a state of :Australia, located in the east of the country. It is bordered by Queensland, Victoria and South Australia to the north, south and west respectively. To the east, the state is bordered by the Tasman Sea, which forms part of the Pacific Ocean. New South Wales...
Government-owned FreightCorp and sold to Toll Holdings
Toll Holdings
TOLL , properly TOLL Holdings Limited, is Australia's largest transport company, based in Melbourne, Victoria. The company has operations in road, rail, sea and air in 55 countries....
and Patrick Corporation
Patrick Corporation
Patrick 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...
as Pacific National.
In 2004, Pacific National purchased Australian Transport Network, operator of TasRail
TasRail
Tasrail 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...
.
