TNT Logistics sees further turnover growth in North America

Dutch mail, express and logistics company TPG NV’s unit TNT Logistics expects a further turnover growth in North America in the next few years, Jeff Hurley, managing director of TNT North America, said on November 19, 2004.

The company targets a double-digit turnover growth. TNT North America generated a turnover of 630 mln euro ($816.8 mln) in 2003. Hurley expects that the number of contracts with clients will increase in the next few years. Currently TNT North America has 181 clients. The value of the contracts with these clients vary from $2.0 mln (1.54 mln euro) to $50 mln (38.56 mln euro) per year.

The company ecpects further $300 mln (231.4 mln euro) to $400 mln (308.5 mln euro) of additional turnover in North America from contracts with potential clients. TNT North America has some 6,000 employees.

TPG generated a turnover of 11.866 bln euro ($15.38 bln) in 2003, 3.735 bln euro ($4.8 bln) of which were attributed to the Logistics division. The Logistics division generated a turnover of 2.861 bln euro ($3.7 bln) in the first nine months of 2004.

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