The future of Pacific National (PN) has been brought into even starker relief by the announcement that the Australian Railroad Group (ARG), jointly owned by Western Australian conglomerate Wesfarmers and the USA’s Genesee & Wyoming (G&W), has been sold to Queensland Rail (QR) and infrastructure investor Babcock & Brown (B&B).
Toll Holdings’ Paul Little has long been predicting that the country’s rail freight sector would consolidate into two major players, but it is doubtful that even he imagined it would be the state-owned QR buying the privateer ARG....
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This complete item is approximately 250 words in length, and appeared in the February 2006 issue of WorldCargo News, on page 14.
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