TPG, CONSIGNIA AND SINGAPORE POST CROSS-BORDER BUSINESS MAIL JOINT VENTURE GAINS FINAL APPROVAL FROM EUROPEAN COMMISSION
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)
