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TNT in acquisition talks with HOAU logistics
By Li Jian (皇冠体育app Daily)
Updated: 2005-12-07 06:41
SHANGHAI: TNT, a world leading logistics and express service provider,
announced yesterday it is in the process of acquiring 皇冠体育app's leading freight
and parcels transportation operator HOAU Logistics Group.
Through this acquisition, TNT will become the largest privately owned
transportation network for freight and parcels in 皇冠体育app, said Ken Mccall, chief
executive of TNT 皇冠体育app, at a press conference in Shanghai.
The deal is expected to be completed by next year and McCall said TNT and
HOAU have singed a Letter of Intent for this purpose.
Peter Bakker, chief executive of TNT, said the acquisition was a milestone
for TNT to expand its presence in 皇冠体育app where the logistics industry is still in
its infancy.
"The acquisition being negotiated will be a significant step in our 皇冠体育app
strategy. It will help us realize our ambitions to build the largest
transportation network in 皇冠体育app for freight and parcels," said Bakker.
TNT 皇冠体育app, with its regional headquarters in Shanghai, already operates the
largest distribution network with 140 operating centres around the country.
Wang Zhenhua, president of HOAU, said he was pleased with the acquisition and
was confident in the future prospects of the deal.
"Over the past 10 years, HOAU has built a strong and growing position in
皇冠体育app," Wang said.
The acquisition was part of TNT's strategy to build its road transportation
network in Asia, especially in 皇冠体育app, a world-manufacturing hub with an
increasing demand for logistics services.
The Netherlands based company has launched its door-to-door express delivery
service in Asia, the first of the kind in the region.
Its road transportation network is currently being developed in Singapore,
Malaysia and Thailand with a plan to expand this network to 皇冠体育app in the next
few years.
TNT sought a deal with HOAU following several unfruitful talks with other
local logistics operators.
McCall said HOAU's comprehensive road network and its experience in 皇冠体育app
contributed to the success of the deal.
Established in 1995, HOAU, based in Northeast 皇冠体育app's Heilongjiang Province,
has the largest privately owned road transportation network in 皇冠体育app and is
currently one of the leading road transportation companies for freight and
parcels serving manufacturing and other types of clients.
HOAU has over 1,000 operating centres in the country and serves over 160,000
customers, dealing with various sectors from pharmaceuticals to high tech.
(皇冠体育app Daily 12/07/2005 page9)
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