AusRAIL, Market Sectors

Toll sets sights on next Asian hurdle

<p>Toll’s entry into the Asian maritime resources logistics scene is almost complete. </p> <p>Toll’s takeover offer of Singapore’s Sembawang Kimtrans closed last week and it was moving to compulsorily acquire all remaining Kimtrans shares &#8211 a precursor to full integration, the Australian company said today (Wednesday, September 19). </p> <p>Toll managing director Paul Little reiterated that S$241.1m (A$191.3m) takeover was a key plank in Toll’s Asian strategy. </p> <p>&#8220This is a great outcome for Toll &#8211 the integration of Kimtrans with Toll’s existing operations is a key element in our strategy to become the Asian region’s leading integrated logistics provider,&#8221 Mr Little said. </p> <p>&#8220Acceptances for Toll’s offer exceeded 90%, Kimtrans is already suspended from trading and Toll will move to delist Kimtrans.</p> <p>&#8220Toll’s priority now is to work with the combined management team on an aggressive growth strategy for the Asian business.</p> <p>&#8220Detailed integration planning is well advanced, and we are very excited by the opportunities identified for future growth of the combined business.&#8221</p> <br />