Patrick Corporation is an Australian seaport operator with operations in
Brisbane
Brisbane ( ) is the capital and most populous city of the states and territories of Australia, Australian state of Queensland, and the list of cities in Australia by population, third-most populous city in Australia and Oceania, with a populati ...
,
Fremantle
Fremantle () () is a port city in Western Australia, located at the mouth of the Swan River in the metropolitan area of Perth, the state capital. Fremantle Harbour serves as the port of Perth. The Western Australian vernacular diminutive for ...
,
Melbourne
Melbourne ( ; Boonwurrung/Woiwurrung: ''Narrm'' or ''Naarm'') is the capital and most populous city of the Australian state of Victoria, and the second-most populous city in both Australia and Oceania. Its name generally refers to a met ...
and
Sydney
Sydney ( ) is the capital city of the state of New South Wales, and the most populous city in both Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Sydney Harbour and extends about towards the Blue Mountain ...
. Formerly listed on the
Australian Securities Exchange
Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as ...
, it is owned by
Brookfield Asset Management
Brookfield Asset Management Inc. is a Canadian multinational company that is one of the world's largest alternative investment management companies, with over US$725 billion of assets under management in 2022. It focuses on direct contr ...
and
Qube Holdings.
History
Patrick Steamship Co was founded in 1919 by
James Patrick. It operated a shipping service with the SS ''Timaru'' out of
Sydney
Sydney ( ) is the capital city of the state of New South Wales, and the most populous city in both Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Sydney Harbour and extends about towards the Blue Mountain ...
along the East Coast of Australia. By 1925 it was operating as both a
shipping line
A shipping line or shipping company is a company whose line of business is ownership and operation of ships.
Shipping companies provide a method of distinguishing ships by different kinds of cargo:
# Bulk cargo is a type of special cargo that i ...
and
stevedore
A stevedore (), also called a longshoreman, a docker or a dockworker, is a waterfront manual laborer who is involved in loading and unloading ships, trucks, trains or airplanes.
After the shipping container revolution of the 1960s, the number ...
, gradually expanding interstate. The shipping operations were sold to
Howard Smith Limited
Howard Smith Limited was an Australian industrial company. Founded in 1854 as a shipping company, it later diversified into coal mining, steel production, stevedoring, travel, railway rolling stock building, sugar production and retail. Its divi ...
.
Patrick was one of the main parties in the
1998 Australian waterfront dispute. In ''
Patrick Stevedores Operations No 2 Pty Ltd v Maritime Union of Australia'', Patrick was found to have illegally dismissed its workforce.
In 2000 Patrick Corporation took over
Holyman
Holyman was an Australian company that operated cargo ships and ferries in Australia and other countries. The company had three divisions; Domestic shipping and transport services, Ferries and Bulk commodity handling.
The company was founded ...
. In February 2002, in partnership with
Toll Holdings
The Toll Group is an Australian-based subsidiary of Japan Post Holdings with operations in transportation, warehousing and logistics in road, rail, sea and air. It has two divisions; Global Forwarding, Global Logistics.
History
In 1888, Al ...
, it acquired a 50% shareholding in
Pacific National
Pacific National is one of Australia's largest rail freight businesses.
History
In February 2002, National Rail Corporation, National Rail's freight operations and rollingstock (owned by the Government of Australia, Federal, Government of New ...
that purchased
FreightCorp
FreightCorp (formally the ''Freight Rail Corporation'') was a railway operator owned by the Government of New South Wales responsible for intrastate and some interstate rail cargo handling from its creation in January 1989 until it was privatis ...
and the
National Rail Corporation
The National Rail Corporation was an Australian rail operator established by the Federal, New South Wales and Victorian governments in February 1992. In February 2002, National Rail was sold to a Patrick Corporation and Toll Holdings consort ...
. In March 2002, Patrick acquired a 50% stake in
Virgin Blue. It took control of the airline in March 2005, ultimately having a 63% shareholding.
[Patrick knocks back takeover bid]
ABC News. 22 August 2005
In August 2005,
Toll Holdings
The Toll Group is an Australian-based subsidiary of Japan Post Holdings with operations in transportation, warehousing and logistics in road, rail, sea and air. It has two divisions; Global Forwarding, Global Logistics.
History
In 1888, Al ...
launched a hostile takeover bid for Patrick Corporation.
[ In January 2006, the ]Australian Competition & Consumer Commission
The Australian Competition and Consumer Commission (ACCC) is the chief competition regulator of the Government of Australia, located within the Department of the Treasury. It was established in 1995 with the amalgamation of the Australian Trad ...
(ACCC) announced it would not allow that Toll to takeover Patrick Corporation. However, in March 2006, after the ACCC announced it would allow the takeover after Toll gave further undertakings including disposing of its 50% shareholding in Pacific National.
In April 2006, Patrick Corporation agreed to accept Toll's revised bid for the company after spending nine months fighting the hostile takeover. Having gained a 90% shareholding in May 2006, Toll was able to compulsorily purchase the remaining shares and delist the company from the Australian Securities Exchange
Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as ...
.
In June 2007, Patrick Corporation and Pacific National were spun off from Toll Holdings as Asciano
Asciano () is a ''comune'' and hill town in the province of Siena in the Italian region Tuscany. It is located at the centre of the Crete senesi between the river Ombrone and the torrent Copra, some southeast of the town of Siena by rail.
Histo ...
. As part of the break up of Asciano, a consortium of Brookfield Asset Management
Brookfield Asset Management Inc. is a Canadian multinational company that is one of the world's largest alternative investment management companies, with over US$725 billion of assets under management in 2022. It focuses on direct contr ...
and Qube Holdings purchased Patrick in August 2016. The Bulk and Automotive Port Services business was sold separately as the Linx Cargo Care Group
Linx Cargo Care Group is a transportation and logistics company in Australia and New Zealand – headquartered in Sydney.
History
Linx Cargo Care Group was founded in August 2016 when Asciano was broken up in August 2016. The Patrick Bulk and ...
.About
Linx Cargo Care Group
References
External links
Company website
{{Authority control
Companies based in Melbourne
Companies formerly listed on the Australian Securities Exchange
Defunct railway companies of Australia
Defunct shipping companies of Australia
Port operating companies
Australian companies established in 1919