Re:TOLL READY TO POUNCE ON DESPERATE OPERATORS BLEEDING DUE TO THE FUEL PRICE
Toll looked over scotts/pure when abn amro bought them,paul little was right about this type of freight...no value,fridge transport has extra fuel usage as the fridge motors run on diesel as well,plus there is a lot of double handling & most drivers hate pulling fridge vans(too noisy if you are doing interstate & if the highway is closed you cant get a sleep).toll took over refridgerated roadways some years ago but only for the trucks,toll only do fridge work in 3pl 3rd party logistics...no money in it...
This week has seen a few more companies fold due to the fuel price,scotts/pure the biggest,howard haulage,nikitaras tpt...i expect toll to take advantage of a few of these who need to sell off their fleets..
AWesfarmers consortium recently took over bunkers freightlines including 4 other carriers,that buy out has been the talk of the industry as bunkers only sub contract so only the trucks not any work is what wes.get...
If you look at how virgin & asciano($71m loss this half) are going atm you can see why i think toll lost direction instead of sticking to what it always has been good at trucks/transport...instead of those buys toll sould have focused on 2 companies...linfox which ive showed would be going real well.plus tnt.
toll could have bought tnt & linfox for around the same price or less for the $6b paid for patricks,now if you look at asciano which comprises pac nat railways & patricks ports they where poor performing assets before the buy out,the rail assets have capacity restraints in the hunter valley coal haulage areas.
with virgin getting slammed i expected toll to see sub $7.00 & possibly $6.00 as suggested here recently,so for toll to hold around $7.00-$7.25,tells me more anns.on aquistions are on the way...
linfox has been in china since 1984...
tnt would have given toll a huge base in europe.
tnt is originally an aussie transport company,taken over by the dutch mail company,tnt is listed on the nyse(tnt)has a market cap of$3.5b...us.
...tb
or maybe:
http://www.startrackexpress.com.au/
Forensic accountant KordaMentha has been appointed receiver and manager to the Cold Chain haulage and storage business of transport company, Pure Logistics, with a view to selling the business as a going concern.
Cold Chain operates a national temperature-controlled haulage and storage business for frozen and chilled goods.
KordaMentha said secured lenders had appointed the firm receivers after working with Cold Chain for an extended period to resolve the company's difficulties.
KordaMentha representative Janna Robertson said the primary aim of the administration was to sell the business as a going concern and Cold Chain would continue to operate, while expressions of interest were being sought.
"We are in discussions with a number of interested parties," she said.
"Our priorities are ensuring an orderly transition of the customers and employees to a buyer who is able to ensure continuity of service to customers and continuity of employment."
The Cold Chain division employs about 360 people, and about 100 contractors.
Ms Robertson said the priority entitlements of workers were secure and would be paid as per normal, while subcontractors would be paid for their work "in the ordinary course of business".
The operations of McColls, a related transport and logistics company which has operated under the Pure Logistics brand, are unaffected, KordaMentha said
tnt 1st quarter report 2008 & PRESENTATION:
http://group.tnt.com/images/20080326_tnt_corporate_information_tcm31-299116.pdf