TNT completes acquisition of Hoau
Today, TNT, the leading global provider of express and mail services, announced the completion of the acquisition of Hoau, the leading freight and parcels delivery company in China. Last week the government of the People’s Republic of China approved the transaction. Parties agreed not to disclose any further financial information.
“The acquisition of Hoau is a significant milestone for TNT. It will help us achieve our ambition to build the no. 1 distribution network in China by giving us comprehensive road coverage. The move is at the core of our strategic focus on integrated domestic and international networks. This will also enable us to link China with our Asian Road Network,” said Peter Bakker, CEO of TNT.
“We are very pleased with the acquisition of Hoau. Hoau’s network gives us a clear competitive advantage in China by improving distribution flow for our customers and strengthening TNT’s growth,” said Michael Drake, Managing Director of TNT Greater China.
Established in 1995, Hoau’s network includes 1,100 depots, 3,000 vehicles and 56 hubs in China covering all major and second-tier cities. Hoau currently has 12,000 employees.
About TNT
TNT provides businesses and consumers worldwide with an extensive range of services for their mail and express delivery needs. Headquartered in the Netherlands, TNT offers efficient network infrastructures in Europe and Asia and is expanding operations worldwide to maximize its network performance. TNT serves more than 200 countries and employs around 139,000 people. Over 2006, TNT reported euro 10.1 billion in revenues and an operating income of euro 1,276 million. TNT N.V. is publicly listed on the stock exchanges of Amsterdam and New York. TNT recognizes its social responsibility, and has formed partnerships with the United Nations World Food Programme and the United Nations Environmental Programme to fight hunger and pollution in the world.
TNT in China, established in 1988, has 25 wholly-owned operating branches and operationally covers more than 500 cities in Mainland China. TNT currently employs over 2,200 skilled professionals across its network and operates 3 fully-functioning international gateways in mainland China which includes Beijing, Shanghai, and Guangzhou. For more information, please visit www.tnt.com.cn
