QR National to change name

Australian rail coal haulage company QR National has proposed changing its name to Aurizon.

According to the company it will put the proposed name change to shareholders at its upcoming AGM in November.

Lance Hockridge, QR's CEO, said "the name change was the logical next step in the company’s transformation", adding that the new name is a combination of Australia and Horizon.

"It conveys the geographical scope of our expanding operations, as well as the extraordinary growth opportunities that are on the horizon for the company."

Hockridge explained that using the QR prefix had been a major part of the company's success in its structural separation from Queensland Rail, and its ASX listing in 2010; however there still remained a high level of confusion between the two companies.

“The similarities in our company names have made it difficult for financial market participants, different levels of government, the media and the general public to distinguish between the services offered by each company,” he said.

“We believe changing the company name will help address this problem and signify a symbolic break from legacy issues of the past.

“While our Queensland operations will always be the company’s foundation asset, and intrinsically tied to our future success, this new name makes a clear statement about our growing Australia-wide footprint and growth aspirations.”

Under its proposal the logo and corporate colours would remain the same.

If approved at the November meeting, QR National will change its ASX code to AZJ as of 1 December.

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