TNT Global Express buys out Italian SDO
TNT Global Express SpA, the Italian unit of Dutch mail, express and logistics services provider TPG, has acquired 100 pct in Italian courier Servizi Distribuzione Ottica Srl (SDO), it was reported on November 22, 2004.
SDO, in which TNT holds the majority stake since 2001, expects to end 2004 with a turnover of 11 mln euro ($14. 3 mln). SDO was established in 1995.
TNT Global Express closed 2003 with a turnover of 497 mln euro ($648. 1 mln). It employs more than 3, 000. The company has 130 offices, 3, 400 delivery vans and trucks and five aircraft for domestic and international connections.
TNT Global Express transports over 140, 000 freights daily. The international network of the company includes 43, 000 employees, 18, 000 transport vehicles, 42 aircraft and 900 offices. (ANSA).
