INDEPENDENT NEWS

Tranz Rail Seeking Buyer For Long Distance Trains

Published: Tue 10 Oct 2000 05:13 PM
Media Release
10 October 2000
Tranz Rail Seeking Buyer For Long Distance Trains
Tranz Rail is seeking expressions of interest in its long distance passenger train business, Tranz Scenic.
Tranz Scenic operates The Overlander (Auckland-Wellington day service), The Northerner (Auckland-Wellington night), The Kaimai Express (Auckland-Tauranga), The Geyserland (Auckland-Rotorua), The Bay Express (Wellington-Napier), The TranzCoastal (Christchurch-Picton), The TranzAlpine (Christchurch-Greymouth) and The Southerner (Christchurch-Invercargill).
An information memorandum will be released shortly to parties expressing an interest in the business.
Tranz Rail’s Managing Director, Michael Beard, says the decision to test market interest in Tranz Scenic is part of the company’s strategic plan to focus on its core freight operations and follows some approaches from other interested parties.
"This will not be a fire-sale. If we don’t attract a proposal that makes good business sense for all parties then we will re-evaluate the sale," Mr Beard said.
"New Zealand’s long-distance train services used to cater largely for point-to-point domestic travel at the bottom end of the market. In recent years, however, much of the Tranz Scenic network has been developed as part of the tourism business. In 1997 Tranz Scenic travel packages won New Zealand’s top tourism award," said Mr Beard.
"Tourism is not part of our core business, however, and the Tranz Scenic services might sit more comfortably with a specialist operator in the tourism field."
"An Information Memorandum will be available to the market within the next two weeks and we would hope to be able to begin assessing proposals before Christmas," Mr Beard said.
For more information contact:
Office hours: 04 498 3177
After hours: 026 112 800

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