TNT and Cosco enter strategic partnership to jointly develop China and Asia pasific logistics business
Le communiqué officiel de TNT TNT and Cosco enter strategic partnership to jointly develop China and Asia pasific logistics business 14 November 2005 - Hoofddorp/Beijing - Cosco Group, the world’s second largest and China’s largest shipping company, together with TNT, a world leading global mail, express and logistics company, unveil a strategic partnership, with the formation of a Joint Venture (JV). The announcement is made jointly by Captain Wei Jiafu, President of Cosco Group and Mr Peter Bakker, CEO of TNT. The partnership will enable Cosco to further penetrate into the Asia Pacific logistics market, and it will enable TNT to expand its presence in China as well as its China-linked logistics business. As a first step in this strategic partnership, both industry leaders today signed the Letter of Intent for the establishment of a logistics JV. The JV aims at becoming the world’s recognised leader in supply chain management in the Asia Pacific region. The combined strengths of both