TNT Express concludes sale of Indian road business
TNT Express has completed the sale of its domestic road business in India to the private equity firm India Equity Partners.
Read MoreTag: TNT India
TNT Express to sell domestic road network in India
TNT Express has found a buyer for its loss-making domestic road network in India, as it seeks to withdraw to focus on its international business.
Read MoreGerry Power appointed managing director at TNT India
TNT Malaysia and Brunei managing director Gerry Power has been appointed as managing director of TNT India.
Read MoreTNT to connect Europe with own freighter aircraft
TNT India Private Limited, a wholly-owned subsidiary of Netherlands based Euro 12.6 billion TNT NV, is planning to connect India with the European Union and expand domestically this year. The company is looking at either buying or leasing freighter aircraft to launch its international operations out of India.
He said the company, which recently acquired the Hyderabad-based Speedage Express Cargo Services, is also exploring opportunities to extend its domestic air express service to various cities in the country. The company is looking at forming alliances with existing airlines to carry cargo for it.
Currently, TNT is connecting 110 cities on its own and reaching other important centres through its agents and partners. The major verticals for TNT in India are banking and financial services, automobile and auto components, pharmaceuticals, ICT sectors and computing. The company with its newly-launched domestic air express business aims to service these sectors intensively.
“The acquisition of Speedage yielding results very rapidly and we have almost transformed their processes within TNT’s processes. After the acquisition we are growing rapidly. Recently we have added several new clients including Pantaloon and ABB,” Mitra added.
The company had earmarked an investment of Euro 100 million in early 2006. However, with its plans to launch express service to Europe, the investments may be doubled over the next few years. The remaining funds will be used to augment the express delivery infrastructure in the next two years in the country.
Read MoreTNT India sees biomedical shipments soar
TNT India, sees huge business in handling biomedical shipment service, as the country becoming an important base for clinical trials. “As India has attracted 20 clinical trial companies, to cater to this business we are investing on human resources and training personnel in dangerous goods handling,” said Ni Sheng Jie, general manager, life science, TNT Asia.
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