Apologies if this has been posted here before.
Transport group Toll will provide Asciano with at least 90 per cent of its Queensland rail freight volumes from next year in a new 13-year deal between the companies.
Asciano's subsidiary Pacific National Rail, as part of the deal, also will buy five Queensland rail terminals from Toll Holdings for $71 million.
The deal means Pacific National Rail will take over the north Queensland rail service of Toll's business from February 1 next year.
Pacific National Rail will buy Toll's intermodal rail terminals at Cairns, Townsville, Mackay, Rockhampton and Brisbane offering employment to 60 Toll staff.
The agreement includes a commitment from Toll to provide a minimum of 90 per cent of its Queensland intrastate rail volumes on Pacific National Rail services, which includes general freight.
Asciano is forecasting a 5.0 per cent fall in earnings before interest and tax in the Pacific National Rail division for fiscal 2014.
Chief executive John Mullen said that despite the soft domestic economic conditions hurting the intermodal business he believed growth could be achieved through improvement in the efficiency, performance and productivity of its rail service.
Asciano shares had fallen one cent to $5.66, while Toll stocks had risen six cents to $5.58.
Read more: http://www.smh.com.au/business/toll-signs-qld-freight-deal-with-asciano-20131223-2zty9.html#ixzz2oS2rfodM