FLINDERS Port Holdings has sold its Logistics and Pirie Bulk divisions to railco Aurizon in a deal it says will promote further trade growth in South Australia.
DCN understands affected staff at Port Adelaide and Port Pirie were told of the sale yesterday and assured all will be able to transfer to Aurizon with entitlements intact.
DCN had not been able to obtain official confirmation by deadline but it is believed the deal was formalised last Thursday [28 March] after some months of negotiations and is subject to ACCC approval. The sale price is said to be commercial in confidence.
In an all-staff memo, the contents of which were relayed to DCN, FPH CEO Stewart Lammin said Aurizon would take over the management of bulk cargo handling along with supply chain logistics to build trade through SA’s key ports, combining Aurizon’s rail network and logistics experience with Flinders Ports’ knowledge of port operations and customer needs.
More to come.
