Earlier this month, TNT Logistics announced its exit from the logistics business. Peter Bakker, TNT Logistics' CEO, explained, "In reviewing our existing strategy we have come to the conclusion that high-quality networks have proven to be intrinsically more attractive than customer dedicated supply chains. In networks like Mail, Express, and Freight Management, TNT can drive increased volumes across infrastructures resulting in continually improving efficiency, operating leverage and higher return on capital."
The logistics business sale is expected to be completed in the second half of 2006, however the company will retain some areas, including TNT Freight Management that connects Asia and Europe.
Simultaneously, TNT Logistics announced its acquisition of TG+, a domestic Express operators in Spain and Portugal; advanced negotiations for the acquisition of Hoau, China's domestic freight and parcel operator, and the start of Phase I of its previously announced Asia Road Network roll-out. "Together with the recently announced China domestic express network and the launch of the China/Europe air lane, these initiatives further position TNT as the leading integrated transport provider in this region," says Bakker.
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