TNT terminates Sinotrans JV
Netherlands-based logistics and courier firm TNT Holdings BV has recently terminated its joint venture with Sinotrans Ltd, China’s largest freight forwarder, a TNT China official surnamed Yang said.
He said TNT will form a new China-based joint venture with Mach++ Express Worldwide Ltd.
Yang declined to provide further information about TNT Skypak-Sinotrans Ltd, TNT’s 15-year 50:50 joint venture with Sinotrans.
Sinotrans officials were not immediately available for comment.
Yang also declined to provide any information about Mach++ Express, saying that more information would be released at a press conference next Monday.
sophia.zhu@xfn.com
