TPG announces initial investment of Eur36m to expand Belgian Liège air hub

TNT Express, the express division of TPG N.V., has today announced a EUR36m investment plan to expand capacity and upgrade facilities at its European air hub in Liège, Belgium.

This initial investment – to be completed by the end of 2005 – is part of a six-year programme expected to total EUR94m. It will create 245 new jobs by 2010 and confirms the company’s strong commitment to the Liège area.

The €36m phase 1 investment will include:
· an increase in hub sortation space from 28.000 m² to 56.000 m²

· extended office space and car parking

· re-engineering of sortation systems to improve speed and efficiency

· improved facilities for staff

Phases 2 & 3, expected to be worth EUR58m include:
· new sortation equipment in the extended hub facility

· increased air container throughput

· modernisation of equipment in the current hub facility

· a new maintenance workshop

· further improvements to information systems, security, power generation and fire protection systems

Explaining the rationale behind the investment decision, Christian Drenthen,
Managing Director TNT Worldwide Networks, said:

“When we moved to Liège we provided connectivity to 46 airports in Europe,
the current network already comprises 65 airports and we are now processing
20 percent more aircraft containers than we were just 18 months ago. TNT’s hub in Liège is the backbone of the company’s European air operations and this investment confirms our strong commitment to a region in which TNT is already the largest employer. Our investment will improve transit times for our growing customer base and further increase the percentage of consignments delivered on time and in perfect condition.”