Aurizon sells Queensland Intermodal business to Linfox

Company News

by Rachael Jones

Rail company Aurizon (ASX:AZJ) has sold its Queensland Intermodal business to Linfox for $7.3 million.

The sale will include freight forwarding, rail wagons, the transfer of customer contracts and employment of the majority of Aurizon’s QIB employees, as well as access to terminals.

Separately, Aurizon and Pacific National will continue to seek clearance of the $205 million sale of the Acacia Ridge terminal through the Federal Court proceedings scheduled to be heard on 19 November 2018.

This acquisition will see Linfox, one of Australia’s leading logistics providers, make a large-scale entry to the Queensland intermodal freight market.

Approximately 190 Aurizon employees currently engaged in the provision of terminal operations and pick-up and delivery services will transfer to Linfox.

Shares in Aurizon (ASX:AZJ) are 0.87 per cent lower at $3.98,
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.