TNT has signed an agreement to sell its 50% stake in Austria’s Redmail to its joint-venturepartner Styria Media Group, in order to concentrate its European mail activities on Addressed Mail
in the large countries where TNT Post has strong market positions.Styria Media Group said its takeover of the joint venture would not affect Redmail’s operations,which focus on the regional delivery of newspapers in Austria.
TNT had already announced in January that it would pull out of the Austrian mail market. This isin line with its new five-year strategy ‘Vision 2015’, to manage its European Mail Networksbusiness (EMN) through partnerships, and sell and withdraw from some European mail markets.
As part of its new strategy, TNT will focus on the larger mail markets including Germany, the UKand Italy, with the aim of further strengthening its position in these countries.
Redmail was launched as a 50-50 joint venture between TNT Post and Styria Media Group in October2001. Since October 2006, Redmail has been delivering addressed and non-addressed mail in Austria,mainly for business clients in the sectors of sales, customer service and marketing. It employsabout 300 staff and cooperates with about 3,000 delivery partners.
Founded in 1869, Styria Media Group is one of the leading media groups in Austria, Croatia andSlovenia with some 3,300 employees. In Austria, it publishes nine daily and 17 weekly newspapers,15 magazines and 15 customer magazines.
