Tag: Courier/Express/Parcels

TNT to ferry shipments on own freighters

Posted by | May 26, 2007 | |

TNT India is looking forward to launching its own freighters on the India-Europe route in the coming months. The subsidiary’s move follows the near integration of Speedage Cargo Express, a semi-road express firm it acquired last September, with its own processes and service standards.

“In the last eight months, we have invested ample time and money in the transformation of Speedage, which has started getting the feel and look of TNT. We will now look at introducing TNT freighters on India-Europe route for better control,” said Abhik Mitra, managing director, TNT India.

TNT is close to completing the re-branding process of Speedage. Also, the transition of Speedage processes and service standards to TNT’s levels has helped improve the firm’s average yield for road express services by 10-12%, but it still remains below the market average.

According to Mitra, after launching the European service, TNT would look at the India-China route, and eventually turn attention to launching a domestic air express.

Currently, the company uses cargo space on commercial airlines for its international and domestic shipments.

TNT India has set its sights on becoming the leading express cargo firm in the country by 2010, and has already committed investments of Rs550 crore to achieve its aim

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Dutch Coalition reaches postal law compromise

Posted by | May 25, 2007 | |

The Dutch centrist coalition has reached a compromise on minimum employment standards for postal workers, clearing the way for a new postal law to pass, a senior lawmaker said on Friday.

Dutch mail company TNT NV’s monopoly on letters up to 50 grams — around half of the 2 billion euro Dutch postal market — will end from the start of next year under the new postal law.

Politicians had all but wrapped up the discussion of the new postal law, Labor member of parliament Ferd Crone, the party’s spokesman on postal liberalisation, told Reuters.

“We’re almost done,” he said, adding one of the few points still under discussion was giving competitors limited access to TNT’s network.

Crone confirmed Dutch media reports that a compromise had been reached on the most contentious question between coalition partners Labor and the Christian Democrats.

Dutch daily Het Financieele Dagblad said the parties had agreed not to write minimum employment standards into the new postal law as the Labor party had demanded, but give the government the option to enforce them later.

The goal was to prompt TNT’s competitors, privately held Sandd and Deutsche Post’s Selekt Mail, to negotiate with trade unions and agree a collective labor contract by the autumn, the paper said.

Analysts have said a rule regarding minimum employment standards would probably mostly affect TNT’s competitors and could thus be positive for TNT.

The Labor party had argued that workers in the postal sector needed to be protected, as TNT’s rivals, as well as TNT unit Netwerk VSP, employ few permanent staff and pay carriers by the number of items delivered.

TNT’s mail business is one of the biggest Dutch employers, with about 59,000 people.

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TNT to delist from New York Stock Exchange

Posted by | May 25, 2007 | |

TNT announced that its Board of Management, approved by its Supervisory Board, has decided to apply for deregistration of the company and termination of its reporting obligations under the U.S. Securities Exchange Act of 1934 (the “Exchange Act”) and the delisting of its American Depositary Receipts (“ADRs”) from the New York Stock Exchange (the “NYSE”)

TNT intends to file a Form 15F with the SEC to deregister and terminate its reporting obligations under the Exchange Act as soon as practicable following June 4, 2007, the date when the revised SEC rules on deregistration become effective. By operation of law, the deregistration will be effective 90 days after the filing, unless the Form 15F is earlier withdrawn. TNT reserves the right to delay the filing of the Form 15F or withdraw the Form 15F for any reason prior to its effectiveness.

TNT intends to file a Form 25 with the SEC to effect the delisting as soon as practicable following June 4, 2007.

The company intends to maintain its American Depositary Receipt facility as a Level I programme. This means that TNT’s ADRs will be traded on the over-the-counter market. TNT’s ordinary shares will continue to be traded on Euronext Amsterdam.

TNT will continue to publish its Annual Report, Accounts and communications in accordance with the Exchange Act on its website http://group.tnt.com.

TNT’s Board of Management has established that the benefits of U.S. registration and a NYSE listing for TNT have declined over time. TNT’s ADR programme is small and the majority of shares in TNT held by U.S. domiciled investors are acquired through Euronext Amsterdam. The average ADR trading business volume is less than five percent of the total volume in the recent twelve month period. TNT furthermore has limited business presence in the U.S. after the recent sale of its logistics and freight management activities.

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