TNT to acquire Chinese Logistics and Spanish express companies
TNT to acquire Chinese Logistics and Spanish express companies
TNT is in advanced negotiations to acquire Chinese domestic freight and parcels operator, Hoau Logistics, and will also acquire TG+, a Spanish domestic express distribution company.
source : http://www.eyefortransport.com
(12/6/2005)
TNT is in the process of acquiring Chinese freight and parcels transportation operator, Hoau Logistics Group, based in Heilongjiang. Both companies have signed a Letter of Intent, and the deal is expected to be completed next year.
The acquisition will make TNT the largest privately owned transportation network for freight and parcels in China. TNT already operates the largest distribution infrastructure in China with 140 operating facilities, covering 2.4 million square metres of warehouse space across 600 cities.
Established in 1995, Hoau has the densest privately owned road network in China, with more than 1,100 hubs and depots across the country covering all major and second-tier cities with a service fleet of over 3,000 trucks and 12,000 employees. Hoau has been granted the rating of "AAAAA", the highest category for the transportation industry in China.
In Europe, TNT’s Express division will acquire TG+, subject to regulatory approval.
The proposed acquisition will expand and strengthen TNT's domestic express business and fuel its international express business in Spain, a strategic market in Europe with high growth potential. At the same time, TG+ will further drive growth of TNT's leading position in the premium express delivery market in Europe by providing better coverage in this key market.
TG+ is the result of the 2003 merger between Transcamer and Gomez. The company is the third industrial parcel operator in Spain with revenues of around €120 million split between its own operations (€100 million) and dedicated agents. In total, this network currently operates 57 depots (22 TG+ directly owned) throughout the country, which add up to 135,000 square metres, with a fleet of 140 line haul trucks connecting the depot network.
The transaction is subject to regulatory approval and is expected to be closed early 2006. The deal will consolidate TNT's second position in the market for international services and will move TNT up to the third position in the domestic industrial parcel market.
Author: Newsdesk / eyefortransport.com
TNT is in advanced negotiations to acquire Chinese domestic freight and parcels operator, Hoau Logistics, and will also acquire TG+, a Spanish domestic express distribution company.
source : http://www.eyefortransport.com
(12/6/2005)
TNT is in the process of acquiring Chinese freight and parcels transportation operator, Hoau Logistics Group, based in Heilongjiang. Both companies have signed a Letter of Intent, and the deal is expected to be completed next year.
The acquisition will make TNT the largest privately owned transportation network for freight and parcels in China. TNT already operates the largest distribution infrastructure in China with 140 operating facilities, covering 2.4 million square metres of warehouse space across 600 cities.
Established in 1995, Hoau has the densest privately owned road network in China, with more than 1,100 hubs and depots across the country covering all major and second-tier cities with a service fleet of over 3,000 trucks and 12,000 employees. Hoau has been granted the rating of "AAAAA", the highest category for the transportation industry in China.
In Europe, TNT’s Express division will acquire TG+, subject to regulatory approval.
The proposed acquisition will expand and strengthen TNT's domestic express business and fuel its international express business in Spain, a strategic market in Europe with high growth potential. At the same time, TG+ will further drive growth of TNT's leading position in the premium express delivery market in Europe by providing better coverage in this key market.
TG+ is the result of the 2003 merger between Transcamer and Gomez. The company is the third industrial parcel operator in Spain with revenues of around €120 million split between its own operations (€100 million) and dedicated agents. In total, this network currently operates 57 depots (22 TG+ directly owned) throughout the country, which add up to 135,000 square metres, with a fleet of 140 line haul trucks connecting the depot network.
The transaction is subject to regulatory approval and is expected to be closed early 2006. The deal will consolidate TNT's second position in the market for international services and will move TNT up to the third position in the domestic industrial parcel market.
Author: Newsdesk / eyefortransport.com