| Patrick Corporation Limited | |
|---|---|
 |
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| Type | Subsidiary of Asciano Limited |
| Founded | Sydney, Australia previously known as Lang Corporation 2002 name changed to Patrick Corporation |
| Headquarters | Sydney, Australia |
| Industry | Logistics |
| Products | Patrick Terminals Patrick Port Services Patrick PortLink General Stevedoring Patrick Autocare (80% JV) Owens NZ (50% JV) Car Compounds Australia (50% JV) Australian Amalgamated Terminals (50% JV) |
| Revenue | $1. A subsidiary, in business matters is an entity that is controlled by a bigger and more powerful entity Asciano Limited ( is an Australian transport infrastructure and operations company Sydney (ˈsɪdniː is the most populous city in Australia, with a Metropolitan area population of approximately 4 Sydney (ˈsɪdniː is the most populous city in Australia, with a Metropolitan area population of approximately 4 For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" Logistics is the management of the flow of Goods, Information and other resources including Energy and people between the point of origin and the point In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need A container terminal is a facility where cargo containers are transshipped between different transport vehicles for onward transportation A joint venture (often abbreviated JV) is an entity formed between two or more parties to undertake economic activity together A joint venture (often abbreviated JV) is an entity formed between two or more parties to undertake economic activity together A joint venture (often abbreviated JV) is an entity formed between two or more parties to undertake economic activity together A joint venture (often abbreviated JV) is an entity formed between two or more parties to undertake economic activity together In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services 2 billion AUD (2004) |
| Employees | unknown (2004) |
| Website | www.patrick.com.au |
Patrick Corporation Ltd was an Australian publicly listed logistics conglomerate. For a topic outline on this subject see List of basic Australia topics. Logistics is the management of the flow of Goods, Information and other resources including Energy and people between the point of origin and the point Headed by controversial CEO Chris Corrigan before it was absorbed by Toll Holdings in 2006, Patrick had interests in shipping, rail and aviation, including a 62% shareholding in low-cost airline Virgin Blue. A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator Chris Corrigan (born 1946 is an Australian businessman He was the Managing Director of Patrick Corporation until it was taken over in 2006 TOLL () ( properly TOLL Holdings Limited, is Australia 's largest Transport company based in Melbourne, Victoria Virgin Blue is an Australian Low-cost airline, Australia's second-biggest Airline as well as the largest airline (by fleet size with the Virgin branding Their headquarters were located in Sydney, New South Wales. Sydney (ˈsɪdniː is the most populous city in Australia, with a Metropolitan area population of approximately 4
Patrick Corporation is notable in being one of the main protagonists in the 1998 Australian waterfront dispute which centred on the Port of Melbourne. The Australian waterfront dispute of 1998 was a severe and protracted Industrial relations dispute primarily between the Maritime Union of Australia (MUA and The Port of Melbourne is Australia's busiest port for containerised and general cargo
In August 2005, Toll Holdings launched a hostile takeover bid for Patrick Corporation, which would include selling down its share in Virgin Blue. TOLL () ( properly TOLL Holdings Limited, is Australia 's largest Transport company based in Melbourne, Victoria
In January 2006, the Australian Competition and Consumer Commission (ACCC) ordered that Toll could not takeover Patrick Corporation. The Australian Competition and Consumer Commission (ACCC is an independent authority of the Government of Australia. [1] However, on 11 March 2006, after Toll gave the ACCC further undertakings in relation to the conduct of the business after a successful acquisition the ACCC indicated that it would withdraw its opposition. Events 1425 BC - Thutmose III, Pharaoh of Egypt, dies (according to the Low Chronology of the 18th Dynasty Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Patrick was given approval by the ACCC to acquire freight-forwarders FCL Interstate Transport on the condition that it broke up Pacific National, its joint-venture with Toll. The deal also hinged on Toll being unsuccessful in its bid for Patrick. On 14 April 2006, Patrick Corporation agreed to accept Toll's revised bid for the company after spending 9 months fighting the hostile takeover. Events 43 BC - Battle of Forum Gallorum: Mark Antony, besieging Julius Caesar 's assassin Decimus Junius Brutus in Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. While not officially acquired yet, it is expected that Toll will soon own enough Patrick shares to take control of the company. Toll's revised bid, some $5. 8 billion instead of about $4 billion offered initially, was considered by Patrick to be the best deal it could get. The deal ends Patrick's plans for acquiring FCL and will mean the sell-off of Patrick's 50% stake in Pacific National to a third party (under the ACCC's ruling). Toll will now become the only fully vertically integrated logistics company in Australia — it will be able to provide a full package of shipping, road, rail and door-to-door transport of freight. Queensland Rail (QR) is already making plans to buy out FCL and trucking company Linfox in order to create its own mega-logistics chain.
On 24 May 2006, after having had held over 50% of Patrick for the past two weeks and having extend its offer for an additional week after not being able to achieve the required stock to remove Patrick from the ASX, Toll reached 90%. Events 1218 - The Fifth Crusade leaves Acre for Egypt. 1276 - Magnus Ladulås is crowned Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Patrick was absorbed the following day. Patrick had previously been a constituent of the S&P/ASX 200 index. The S&P/ASX 200 index is a market-capitalisation weighted and float-adjusted Stock market index of Australian stocks listed on the Australian Securities Exchange Trade in the remaining shares was suspended on June 6, 2006, and PRK was removed from the official list on 3 July 2006 after completion of compulsory acquisition. Events 1508 - Maximilian I Holy Roman Emperor, is defeated in Friulia by Venetian forces; he is forced to sign a three-year Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Events 324 - Battle of Adrianople Constantine I defeats Licinius, who flees to Byzantium. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. [2]
See also
References
- ^ http://news.google.co.nz/url?sa=t&ct=nz/0-2&fp=43cf842a543de844&ei=AgnPQ5TeKs3caM-TuLkO&url=http%3A//www.stuff.co.nz/stuff/0%2C2106%2C3544306a6026%2C00.html&cid=1103555686
- ^ Australian Securities Exchange (2006-07-03). TOLL () ( properly TOLL Holdings Limited, is Australia 's largest Transport company based in Melbourne, Victoria Toll Holdings New Zealand Limited is New Zealand 's largest Trucking company in terms of annual revenue and size Asciano Limited ( is an Australian transport infrastructure and operations company The Australian Securities Exchange ( ASX) is the primary Stock exchange in Australia. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Events 324 - Battle of Adrianople Constantine I defeats Licinius, who flees to Byzantium. "Patrick Corporation Limited Removal from Official List" (pdf). Press release. A news release, media release, press release or press statement is a written or recorded Communication directed at members of the News Retrieved on 2006-07-04. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Events 836 - Pactum Sicardi, peace between the Principality of Benevento and the Duchy of Naples
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