AusRAIL, Market Sectors

Fox keeps on turning the wheel

<p>Reflecting on 50 years in transport, magnate Lindsay Fox has ruled out floating his company on the Australian Stock Exchange, predicting more consolidation in the transport industry and as a commited acquirer, says he has his eye on port assets.</p> <p>In a wide-ranging interview with ABC journalist Ali Moore, Mr Fox said his goal was to grow the business to a $6b company. </p> <p>&#8220With the global companies that we deal with, the potential of being their pre-eminent supplier through India and China, we could be there in five years,&#8221 he said. </p> <p>&#8220I’ll put my money on my place every time. Don’t forget with me, it is my money. Always has been, always will be.&#8221</p> <p>Mr Fox said the company aimed to raise $5b in revenue to aid acquisitions opportunities with fewer customers, bigger volumes and the help of &#8220a lot of friendly bankers&#8221.</p> <p>From there, the business will grow organically, doing &#8220whatever we’ve got to do by ourselves, as we’ve done&#8221.</p> <p>&#8220We don’t have any partners throughout Asia or throughout Australia,&#8221 he said. </p> <p>&#8220We find that quite often with partnerships, both sides have got different objectives.&#8221</p> <p>Mr Fox ruled out acquiring rail interests &#8211 &#8220I don’t particularly want to run railroad&#8221 &#8211 looking instead to port assets. </p> <p>&#8220I think ports are an interesting facet going forward,&#8221 he said. </p> <p>&#8220The aspect of trucks, we’ve got trucks, but we also operate over 250 warehouses throughout South-East Asia and in our total group of employment, there’s 17,500 people that either work or contract directly to us and we’re still growing at somewhere around 22% per annum.&#8221</p> <p>Full transcript here: http:&#47&</p> <br />