October 02, 2014 2:03 PM ET

Transportation Infrastructure

Company Overview of Gladstone Ports Corporation Limited

Company Overview

Gladstone Ports Corporation Limited manages and operates a port, including a marina and its recreational parklands, and a shipping terminal in Gladstone. It provides natural resources and finished products to customers worldwide. Gladstone Ports Corporation Limited was formerly known as Central Queensland Ports Authority and changed its name to Gladstone Ports Corporation Limited in March 2008. The company was founded in 1914 and is based in Gladstone, Australia.

40 Goondoon Street

Gladstone, QLD 4680

Australia

Founded in 1914

Phone:

61 7 4976 1333

Fax:

61 7 4972 3045

Key Executives for Gladstone Ports Corporation Limited

Chief Executive Officer
Operations General Manager and Acting Operations
Commercial General Manager
Community Support Officer
Port Development General Manager
Compensation as of Fiscal Year 2014.

Gladstone Ports Corporation Limited Key Developments

NORTH Queenslanders An Asset Sales

The State Government, Queensland (State of), proposed an asset sell-off to privatise major pieces of Northern infrastructure. A number of multinational banking, legal and accounting giants were appointed to the panel of "specialist and strategic consultants" to advise the Government as it moves ahead with plans to sell or lease up to $33.6 billion of state assets. Macquarie Group Limited (ASX:MQG) will advise on the privatisation of the Port of Townsville Limited and Gladstone Ports Corporation Limited, with Merrill Lynch & Co., Inc. and Macquarie Group Limited advising on the sale of electricity networks, Lazard Ltd. (NYSE:LAZ) appointed to electricity generators and RBC Capital Markets to SunWater Limited. Grant Samuel was named an independent corporate -adviser. Queensland called for applications for the advisory panel earlier this year and received more than 110 proposals from 49 organisations.

Government Advertises For Asset Sale Advisors

The Queensland government has called for expressions of interest from advisers to assist with the privatization of state assets. Tim Nicholls said the government is sticking by its promise not to move forward with its $33 billion state sell-off without a mandate from voters. The state’s generating companies, CS Energy Ltd, Stanwell Corporation Limited, Gladstone Ports Corporation Limited, Port of Townsville Limited and the incomplete Mount Isa to Townsville freight rail line have all been earmarked for potential sale. Ergon Energy Queensland Pty Ltd.'s Ian McLeod and Terry Effeney of Energex Limited have already prepared staff for the advertisements, both sending emails to employees pre-empting the move “to ensure that future transactions are completed in a timely manner, should the government receive a mandate from the Queensland people and decide to proceed.” “This process is about the government getting the best advisory services on board to undertake preliminary due diligence activities to ensure that transactions are completed in an optimal way”, Effeney wrote.

People Oppose Government's Privatization Policy

More than 70 people gathered on June 12, 2014 to voice their opposition to the Newman Government's proposal to sell or lease some state assets which included Stanwell Power Station for sale, Gladstone Ports Corporation Limited for lease and Ergon Energy Corporation Limited to be privatised. Secretary of The Services Union, Neil Henderson said the loss of these assets would have a major impact on the Rockhampton region. "We think there's no reason to do it," Henderson said. "Queensland isn't in an economic crisis." Henderson said when companies were privatised, ongoing employment was minimal, with most jobs being contracted. He said there would be a flow-on effect for the local community if workers lost their jobs. In the case of Ergon Energy, Henderson said there was no doubt power bills would increase. Henderson said the government should instead be focused on creating jobs. People at the rally were addressed by Member for Rockhampton Bill Byrne and Labor's candidate for Keppel Brittany Lauga. Byrne said the government had not looked at any alternatives to asset sales. "Their agenda hasn't changed one iota," he said. Byrne said Labor and the union movement would work very closely to take on a "frightening agenda". "It's an agenda that's been deliberately constructed to facilitate the sale of major assets of this state," he said.

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