TPG, CONSIGNIA AND SINGAPORE POST CROSS-BORDER BUSINESS MAIL JOINT VENTURE GAINS FINAL APPROVAL FROM EUROPEAN COMMISSION
BUSINESS Consignia
From PA NEWS, June 15th, 2001
TPG, CONSIGNIA AND SINGAPORE POST CROSS-BORDER BUSINESS MAIL JOINT VENTURE
GAINS FINAL APPROVAL FROM EUROPEAN COMMISSION :: PR Newswire, London, June 15. This press release is transmitted on
behalf of Consignia The European Commission has given final approval to the cross-border
business mail Joint Venture between TPG, Consignia and Singapore Post. The
green light from the Commission for the new company to commence trading
follows their approval of the divestment of the TNT International Mail
business in the Netherlands to Swiss Post International. The new Joint Venture company announced today that it expects to begin
trading on 2 July 2001. The Joint Venture will be the first of its kind,
delivering real benefits to international mailers all over the world by
combining the global reach, networks, systems, products and expertise of the
three parent organisations. Notes to Editors: 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 EUR 9.9 billion in 2000. TPG is publicly listed on the stock
exchanges of Amsterdam, New York, London and Frankfurt. Consignia (formerly The Post Office) is the UK’s national postal
administration, which is wholly owned by the Government. Using the Royal Mail
brand it has established itself as one of the world’s leading international
mailing companies, with offices throughout Europe and North America. In 2000
the international operation handled more than 1.6 billion items of mail. Singapore Post (SingPost) is the national postal services provider in
Singapore and is a subsidiary of Singapore Telecom, the leading
telecommunications provider in Singapore. SingPost has established a strong
reputation especially within the Asia Pacific region, where it provides first
rate mailing solutions for international marketers, publishers and corporate
businesses located within the region. UNS Contact: Consignia Plc Group Communications Tel: 020 7250 2468 (24 hours)
(http://www.consignia.com) ends/mwPA NEWS, 15th June 2001
