Pacific National Pty Ltd (PN) (Australia), Railway systems and operators
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Title
Pacific National Pty Ltd (PN) (Australia)
Section
Railway systems and operators
Appearing in
Jane's World Railways
Publication date
Jun 30, 2008
Subsidiary
Background
The former National Rail Corporation Ltd (NR) was formed in September 1991 to create a competitive and commercially viable rail freight business. Its shareholders were the Commonwealth Government of Australia and the states of New South Wales and Victoria. The company commenced commercial operations in April 1993. It took over all of the interstate rail freight business conducted by five separate state-based rail authorities, including the assets predominantly used in that business.At the end of January 2002, the Australian government announced that NR was to be sold to National Rail Consortium Pty Ltd (NRC Pty) in a combined sale with the former FreightCorp. Trading as Pacific National (PN), the company was initially owned jointly by Patrick Corporation and Toll Holdings, two of Australia's largest public companies. In July 2006 Toll Holdings acquired Patrick, making the former company sole owner of PN. In April 2007, as part of a restructuring ordered by the Australian competition authorities, Toll Holdings announced the establishment of a new holding company for PN and its Patrick's ports and logistics activities, Asciano Ltd.In February 2004 PN acquired the Australian Transport network, the operations of which included the Tasrail 1,067 mm gauge operation in the island state of Tasmania and ATN Access in Victoria. In March 2004 PN reached agreement with Rail America to purchase Freight Australia for AUD285 million. Freight Australia operated mainly on the broad gauge network in Victoria although it also ran standard gauge services in New South Wales. Pacific National Queensland (PNQ) commenced
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