Import text file of over 85000 records

Hiya

I have a text file that contains (this month) over 85,000 records. the actual number of records the file could contain each month is likely to fall between 70,000 and 250,000 records.

Obviously Excel has the 65536 record limit and i know that when importing text files there is a limit as to how "far down" you can set the starting row (32,000 I think).

Is there any way to get Excel to import this large text file either onto separate sheets or to "wrap" the import so that when the maximum number of rows is reached, it starts again at row 1 in the next blank column.

The data only contains 10 columns of data, so the limit of 256 columns in Excel won't be a problem.

Suggestions????