Peter Rae has been inducted into the New Zealand Road Transport Hall of Fame at a gala dinner function in Invercargill on 26 September 2024.
Peter’s citation reads as follows –
Peter Rae
NZ Road Transport Hall of Fame Inductee 2023
Peter Rae, currently based in Christchurch, has had a notable career in the transport industry characterised by innovation and leadership.
He joined Waitaki Transport in 1965 as an accountant, shortly after the company’s
establishment. Over time, Peter ascended to the role of Managing Director and, by 1987,
acquired full ownership of the company.
Under Peter’s leadership, Waitaki Transport emerged as a key player in North Otago’s
transport sector, particularly noted for its involvement in the Upper Waitaki Hydro
Development Projects. The company undertook a variety of tasks, including freight cartage, building transportation, metal cartage, and livestock movements, operating a large fleet from multiple depots in North Otago at its peak.
Peter’s leadership was crucial during several challenging periods. Notably, he guided the
company through harsh droughts soon after his arrival. Despite these adversities, he ensured that employee wages were consistently paid and no cheques bounced. Peter’s strategic foresight enabled Waitaki to capitalise on significant opportunities, especially in the hydro schemes, which involved bold financial decisions and substantial investments in new equipment.
In 1971, Waitaki Transport made a substantial investment in 20 International Harvester ACCO 1820 tip trucks, followed by another ten trucks later. By 1981, the company secured a $3.5 million cartage contract for the Upper Waitaki Power Scheme, an extension of earlier work. This contract necessitated the acquisition of additional trucks and established Waitaki as a critical player in transporting essential materials to the hydro projects, including large equipment and household goods.
Beyond freight, Waitaki also became a leading house mover, relocating entire villages to accommodate power projects. At its height, the company operated 40 trucks and 35 buses to support the hydro schemes. Innovative solutions were required, such as installing nightstore heaters in buses to ensure their operation during winter. Peter Rae was also a key driver of industry advancements. In 1979, Waitaki introduced one of New Zealand’s largest fleet maintenance workshops, a venture initially met with skepticism but later recognised as a significant asset. This facility serviced both Waitaki’s fleet and external clients.
Peter’s contributions extended to broader industry efforts as well. He actively participated in the Road Transport Association in Otago and served as its President. In 1980, he received the Brennan Memorial Trust Travel Award, allowing him to study roading taxation and transport licensing systems in the United States, Canada, Britain, and Europe, which provided valuable insights for the New Zealand transport sector.
By 1984, Peter shifted from day-to-day operations to focus on strategic leadership as Chairman of the Board. His vision led to the company’s diversification into property ownership and investment, with notable involvement in the National Property Trust and other ventures. Waitaki Transport Holdings Ltd evolved into Peter Rae Industries Ltd under his leadership. In 2000, Waitaki’s livestock and rural division was sold to Owens Transport Group, and by 2017, the remaining transport assets were sold to Hoskins Transport Ltd, marking the end of Waitaki’s 52-year tenure in the road transport industry.
Today, Peter Rae remains active in directorships and investment activities. Peter Rae Industries Ltd now focuses primarily on property investment, and Peter continues to be involved in the finance sector through stakes in Mutual Credit Finance Ltd and Efficient Market Services Ltd.
Peter Rae’s career exemplifies his pioneering spirit, strategic vision, and unwavering commitment to excellence in the transport industry. Peter Rae, currently based in Christchurch, has had a notable career in the transport industry characterised by innovation and leadership.
