Media Release

3 April 2001

Toll Expands Port Operations

Click Here to go to the Toll Ports Website

Toll Holdings, Australia's leading provider of integrated transportation and logistics services, today announced it had reached agreement for the acquisition of the operations of Strang Stevedoring. 

Toll Managing Director Mr Paul Little, said "the acquisition provides a significant addition to the Group's port logistics activities and presents Toll with another strong avenue for growth". The new port operations will compliment the group's existing comprehensive nationwide road and rail capability. 

"The acquisition will enable us to further expand our services in order to provide customers with fully integrated solutions, and improve efficiencies across our customers supply chains. 

The Strang operations are particularly strong in the automotive sector and when combined with the recently acquired Finemore businesses, will enable Toll to present our automotive industry customers with a full range of highly integrated logistics services," said Mr Little. 

The acquisition involves regional stevedoring operations at Newcastle, Port Kembla, Geelong and Portland as well as the Webb Dock West facility in Melbourne. The operations currently generate revenues of around $16 million p.a. 

Robert Strang (founder and owner of Strang Stevedoring) will be joining Toll in a senior port development role and this further strengthens Toll's port management expertise. 

The acquisition, which is expected to be completed over the next few days and will immediately produce positive earnings per share, although some restructuring will be necessary. 

For further information please contact: 

Mr Paul Little		Mr Neil Chatfield
Managing Director		Chief Financial Officer
Toll Holdings Limited		Toll Holdings Limited
03) 9694 2820		03) 9694 2820
0418 335 053		0419 566 847