Tag: TNT

TNT sells freight management to GEODIS

Posted by | Nov 16, 2006 | |

TNT N.V. today announced that it has signed a Sale and Purchase Agreement (SPA) to sell its freight management business unit to French logistics service provider GEODIS SA. The transaction has an enterprise value of euro 460 million, cash and debt free. TNT estimates cash proceeds of above euro 400 million. The transaction will bring TNT a book gain of well over euro 150 million and is expected to close in the first quarter of 2007 subject to regulatory clearances. Final amounts will be calculated on the basis of completion accounts.
Peter Bakker, CEO of TNT stated: “We bought the business in 2004 primarily based on a rationale related to Logistics. As part of our Focus on Networks strategy we studied the relationship to our express and mail delivery networks and decided that selling the freight management business is the best way forward and will allow TNT to focus on the many growth opportunities that our network businesses offer. I congratulate GEODIS with the acquisition of this excellent business and wish the management and employees continued success.”
Pierre Blayau, Chairman & CEO of the GEODIS group stated: “We are very excited by the acquisition of TNT Freight Management, which is a valuable company and a perfect fit with GEODIS business model. I am pleased to confirm that Jeff Hoogesteger will remain CEO of TNT Freight Management from Headquarters maintained in the Netherlands”.

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What's good for the post office

Posted by | Nov 15, 2006 | |

There is both a similarity and a critical difference between what China and India are contemplating. The similarity is that officialdom in both the countries wants to reserve postal mail below a certain weight for the state-owned service, amidst strong protest from private operators in the field. The private courier services in India and China have pointed to the most important consequence that such a monopoly for the incumbent is likely to have_kill a large number of low-skill jobs with the couriers, which governments can hardly afford to allow.

In the case of India, the website where the draft Bill to sanction this monopoly is posted for public discussion says in support of its move that such monopolies exist in other countries. But what it does not say and which is relevant is that in one part the world, for example the European Union, where such a practice still exists, it is set for sunset under the European Commission’s ongoing reform programmes. India should surely conform to the future, not the past.

China and India are both examining the future of their post offices in the wake of some of the leading earlier fully state-owned European postal services successfully transforming themselves. It is important for India to get things right but as of now there are no signs that it will be able to do so.

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TNT Express Germany wins European Award for Business Excellence

Posted by | Nov 8, 2006 | |

TNT Express Germany has won this year’s European Business Award together with the BMW Group. The European Business Award is one of the most prestigious economy prizes in Europe. Donald Pilz, chairman of the board of directors, received the award at the Forum of the European Foundation for Quality Management in Budapest on Tuesday evening. In addition to TNT Express Germany, three other TNT business units made it into the short listed 27 finalists – TNT International (Europe), TNT Express Greece and TNT Express Estonia.

Winning the EFQM Excellence Award is a milestone in TNT Express Germany’s company history. Host Andreas Sugar presented the important prize to Donald Pilz at the Palace of the Arts in Budapest on the evening of November 7th. In his speech Pilz stressed that “It was only possible to win this award because everyone at TNT Express lives and breathes business excellence each and every day.“ TNT Express succeeded over 27 other companies which made it to the final. These included reputable names such as E.ON, FIAT, Philips, General Motors and T-Systems.

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Four organisations win Europe’s most prestigious award for business excellence

Posted by | Nov 8, 2006 | |

The winners of the EFQM Excellence Award were announced last night during the EFQM Forum Gala Dinner celebration in Budapest, Hungary. Over 700 senior executives and business leaders from 45 countries witnessed the presentation of the Award by Ferenc Gyurcsány, Prime Minister of Hungary, to four organisations: BMW Group Chassis and Driveline Systems Production, TNT Express GmbH, Grundfos A/S and in the public sector, St. Mary’s College Londonderry. The EFQM Excellence Award recognises industry leaders with an undisputable track record of progress and results for both financial and non financial performance. The Award, which is given to Europe’s best performing companies and not-for-profit organisations, is Europe’s most prestigious award for organisational Excellence.

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TNT starts share repurchase program of up to euro 1.0 billion

Posted by | Nov 6, 2006 | |

Today TNT N.V. starts a share repurchase program of up to euro 1.0 billion, which will be executed by ABN AMRO Bank N.V. The announcement follows the completion of the sale of its Logistics business as per 4 November 2006. It is TNT’s intention to cancel the ordinary shares acquired through the repurchase program.
Given the share buyback value of up to euro 1.0 billion, the approximate maximum number of ordinary shares to be repurchased under this repurchase program is 32.9 million, calculated on the basis of the last trade prior to commencement of this repurchase program.

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