Asciano Limited has acquired Newcastle-based integrated logistics company Mountain Industries Pty Ltd.
The acquisition is in line with Asciano's aim to further develop the capabilities of its Ports & Stevedoring Division, and extends its existing footprint in strategic locations on Australia's east coast.
"This investment will expand the capabilities of our Ports and Stevedoring Division, providing access to a large group of blue-chip customers, strong existing management and a footprint across some of the key bulk haulage centres on Australia's eastern seaboard," said director of Patrick Ports & Stevedoring Philip Tonks.
"In addition to positioning our business in key long-term commodities, industrial and agricultural growth markets, the acquisition will expand our stevedoring and logistics operations on Australia's east coast, build our capabilities in bulk haulage and handling and create new opportunities to further leverage the complementary strengths of our rail, port and landside logistics businesses."
Mountain Industries is an integrated logistics solutions provider based in Newcastle, New South Wales, with operations across the east coast of Australia. The business provides services to customers in the containerised, general cargo and bulk commodity export markets, including transport, storage, intermodal and distribution services.
Mountain Industries CEO Keith Morgan said the acquisition will support the future growth of both businesses.
"We look forward to the integration and enhancement of current services delivered to shared major customers and the ongoing development of new opportunities across the New South Wales, Queensland, Victoria and South Australian markets."
Mountain Industries, now a wholly owned subsidiary of Asciano Limited, will continue to operate as an independent business as part of Asciano's PatrickPorts and Stevedoring division. The acquisition has been made on a cash free, debt free basis and includes transfer of the freehold title over four operational sites currently owned by Mountain Industries.
