TPG signs letter of intent with CTT Correios
TPG signs letter of intent with CTT Correios
TNT Post Group NV (TPG) announced today the signing of a Letter of Intent with CTT Correios to explore a potential long term strategic alliance, which will mainly focus on domestic and international express delivery services within and from Portugal. Aim of the alliance is to offer the market the best express services.
The transaction is scheduled to be completed before the end of the year.
Mr. Scheepbouwer, Chairman and CEO of TPG considers a closer co-operation between TPG and CTT Correios as an important step in improving TPG’s position in Southern Europe: “CTT Correios is a modern, forward looking postal company and therefore an ideal partner in the Portuguese market. We believe that through this co-operation we can bring world class express products to the Portuguese customers.”
Mr. Emilio Rosa, Chairman of the Board of CTT Correios, consideres that the company “signs a very important letter of intent and a commercial agreement which enables to improve the quality of the express service, by using the network of a major international integrator and deliverer.”
Additional information
TPG, with its two brands TNT and Royal PTT Post, is a global provider of mail, and express and logistics services. It employs approximately 130,000 people in 58 countries and serves over 200 countries. The company reported sales of 9.9 billion in 2000. TPG is publicly listed on the stock exchanges of Amsterdam, New York, London and Frankfurt.
CTT Correios de Portugal is the Portuguese public postal operator. Its sales network is made up of 1073 counters. It employs more than 17,000 people and owns 420 delivery offices. CTT Correios daily deliveres 5.7 million items to 5 million addresses.
