history
Patrick as a company associated with the Australian waterfront emerged in September 1919, when Captain James Patrick, together with Mr. F.W. Radford founded and established Patrick Steamship Co. Ltd. to operate cargo services on the Australian coast.
The company changed its name to James Patrick & Company Pty. Limited in January 1925 in part to reflect the company’s new status as both a shipping line and a stevedore of its own vessels.
During the 2nd World War, James Patrick ships were requisitioned by the Australian Government for the war effort. Additionally, the company was asked to stevedore other government requisitioned vessels which marked the beginning of their expertise as a contracting stevedore to other shipping lines. At that time the company commenced acting as ship agents also at the government’s request.
The original founder Captain James Patrick died in 1945.
During the 1950’s, with increasing competition and rising operating costs, the company decided to wind up its shipping fleet operations and concentrate solely on providing stevedoring and agency services in all Australian ports.
From the 1950’s through 1982, a significant driving force behind the company was Sir Reginald Reed who developed the stevedoring business into the largest in Australia. During this period, the company continued to provide ship agency services but also added to its operations shipwrighting services, line haul trucking and travel services.
By the early 1980’s James Patrick & Co. was a major force on the Australian waterfront. At this time it was acquired by industrial conglomerate Howard Smith Limited. Later that decade the container terminal operations of James Patrick were merged with the stevedoring operations of ANL to form National Terminals (Australia) Limited and then the remaining general cargo operations were merged with the stevedoring operations of Melbourne based FG Strang Pty. Limited to form Strang Patrick Stevedoring.
Lang Corporation Limited was established in 1990 as a holding and management company for a number of investments. That year it acquired a 50% interest in what was then Australia’s third largest stevedore, Strang Patrick Stevedoring Pty. Limited.
Patrick Stevedores was born out of the merger of Strang Patrick Stevedoring and National Terminals in 1993 and in the following year Patrick bough out the equity interests of Howard Smith and ANL.
In 1996 vehicle processing, storage and distribution was incorporated into the Company structure, trading as TDG Autocare (now Patrick Autocare).
The period 1995 to 1997 was characterised by ineffective attempts to modernise work practices on the wharves and improve operational efficiency. Matters were brought to a head in 1998. Following 43 days of industrial action, plus intervention by the Federal Court of Australia, Patrick was able to negotiate enterprise agreements, which allowed the company to permanently reduce costs, improve productivity and re-establish job security. Patrick’s stevedoring operations have been characterised by almost no industrial disruption in the decade since that time.
Dramatic improvements to stevedoring efficiency were followed by a series of acquisitions to bring the efficiency improvements into the wider import and export distribution chain. At the same time, productivity improvements in stevedoring continued.
From 1999 to 2001, Patrick grew its business substantially with a number of acquisitions including the on market acquisition of Holyman Limited for $125m bringing expansion into Bass Straight Shipping and Tasmanian freight forwarding. The acquisition of the Liberty group of companies followed, providing container parks and port transport services in Sydney and Melbourne. Further, negotiated acquisition of the MPG Logistics Port Services Division of Mayne Nickless providing strategic facilities and critical mass for container parks and port transport services and on market acquisition of TDG Logistics Limited for $45m provides import foothold for warehousing and distribution of foods and chemicals.In 2001, the name of the parent company Lang Corporation Limited was changed to Patrick Corporation Limited. In October 2001, negotiated acquisition of the Brisbane operations of CSX World Terminals (trading as Sealand) strengthens Brisbane client base and provides wharf facility for testing automated straddle.
In 2002, Patrick was successful in expanding its presence in the rail sector acquiring National Rail and FreightCorp, in partnership with Toll Holdings Limited. The new business was renamed Pacific National. In the same year, Patrick Corporation purchased a 50% share in Virgin Blue Airlines. In addition, Patrick continued its strategy of providing integrated port logistics with further acquisitions of Seatons Transport, United Transport from Brambles adding domestic logistics with specialty in the warehousing and distribution of chemicals, Alpens Transport and acquisition of Ansett International Ground Handling business provides access to the aircraft cargo handling and JetCare.
In 2003, Patrick invested a further $137m in Virgin Blue at the time of its IPO and acquired Phillips Transport. In 2005, Patrick acquiried a further 17% of Virgin Blue for $346m, controlling 62.4% of Virgin Blue. In addition, Patrick attempted to acquire FCL Interstate Transport. In August 2005, Toll made a hostile bid for Patrick. After a lengthy takeover process, Toll acquires Patrick Corporation in 2006, gaining ownership of Patrick’s Container Terminal operations, PortLink and Port Services businesses, and stevedoring operations, with the remaining 50% of Pacific National. After the acquisition, Toll Holdings announces intention to restructure the Group into two ASX listed entities – Toll and Asciano.
On June 6 2007, Asciano lists on the ASX, with Patrick a vital part of Asciano’s transport infrastructure portfolio, including 100% of Pacific National, Patrick container ports as well as the combined port operations and stevedoring businesses of Toll and Patrick.
