SCT Logistics gains part of Toll's rail divestments
by LLDCN 10:51AM, 16 Feb 2007
SCT Logistics will get 12 locomotives and “a variety of rolling stock to suit container movements” from Toll Holdings, the company said today (Friday, February 16) after the Australian Competition and Consumer Commission yesterday gave the green light to the divestment.
The equipment represents part of the “east-west rail assets”, also called the starter's kit, that Toll last year pledged to give up in return for ACCC allowing Toll's takeover of Patrick Corp to go ahead, ACCC commissioner Stephen King told Lloyd's List DCN .
“There will still be some spare assets that will still be available to other parties,” Dr King said.
Toll has sought a variation to certain of its ACCC undertakings after an announced restructuring, the ACCC said, “requesting, amongst other things, a waiver of the obligation to make the east-west rail assets available”.
ACCC chairman Graeme Samuel said: "The ACCC has considered Toll's request for a waiver and has determined that Toll should be required to comply with its original obligation with regards to the east west rail assets.
"The ACCC is continuing its assessment of all other aspects of Toll's proposed variation and expects to make an announcement in that regard as soon as possible."
Weekly Top Stories
- ARTC training video wins US gong
- Gold Coast Light Rail opens
- MTR set to operate London’s Crossrail
- SMRT fined for Singapore disruptions
- Iron ore, coal production booms for BHP
- Asciano confirms port sale plans
- New locos for Pacific National
- Thiess, Brookfield big winners at ARA awards