TNT announced today that it had completed the acquisition of leading Chinese freight and parcelscompany Hoau following government approval of the deal.
The purchase of Hoau represents a major expansion by TNT in China. Hoau has 56 hubs, coveringall major and second-tier cities, 1,100 depots, 3,000 vehicles and 12,000 employees. The partieshave not disclosed financial details of the deal.
”The acquisition of Hoau is a significant milestone for TNT. It will help us achieve ourambition to build the No. 1 distribution network in China by giving us comprehensive roadcoverage,” said Peter Bakker, TNT chief executive.
”The move is at the core of our strategic focus on integrated domestic and internationalnetworks. This will also enable us to link China with our Asian road network,” Bakker added.
TNT China, established in 1988, has 25 wholly-owned branches and covers more than 500 cities.It operates three international gateways at Beijing, Shanghai, and Guangzhou.
Hoau, based in Heilongjiang, claims to have the densest road trucking network in China.Established in 1995, the company has over 160,000 customers and is particularly strong infast-moving consumer goods, hi-tech, components, appliances and pharmaceuticals.
