24 Sep 2004
The Port of Tauranga chief executive Jon Mayson today welcomed the Commerce Commission's decision to allow the formation of a new joint venture company, which will acquire the businesses of The Owens Cargo Company and Toll Logistics (NZ) Limited.
The new, yet to be named company, will be a 50/50 owned operation that offers an integrated marshalling and stevedoring service at 12 ports throughout New Zealand.
Mr Mayson said the purpose of bringing the two companies together was to create a vertically integrated service organisation to efficiently handle the marshalling and stowing of cargo.
"Our objective is to take costs out of the system, which will benefit our competitive position and the cost effectiveness of the services that we offer to our customers."
He said the Port would be meeting with Toll executives in the coming weeks to finalise the agreements between the two parties and it was hoped that the new company would be in a position to begin operating next month.
Chief executive of the new company will be Mark Cairns who is currently chief executive of The Owens Cargo Company.
The joint venture company will provide marshalling and stevedoring services at NorthPort, Auckland, Tauranga, Gisborne, Napier, Wellington, Nelson, Picton, Lyttleton, Timaru, Bluff and New Plymouth.
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