FedEx Express will take majority control of the long-standing joint venture between TNT and Swiss Post as it presses ahead with integration of the Dutch-based company in Europe and overseas.
FedEx and Swiss Post announced yesterday that FedEx Express Switzerland will become part of the TNT Swiss Post joint venture. In future, FedEx will own 62% of the joint subsidiary while Swiss Post will retain a 38% stake. The value of the transaction, which was approved by Swiss authorities on September 21, was not disclosed.
Founded in 2000, TNT Swiss Post has about 550 employees and a fleet of more than 250 vehicles operating out of four depots (Buchs, Basel, Geneva and Novazzano). The company provides domestic express services throughout Switzerland and international express services, to date through TNT’s international network. In future, FedEx’s worldwide services will also be available to the company’s customers.
For its part, FedEx Express began serving Switzerland in 1985 and provides companies with a broad range of time-definite express services, including next-business-day service to the U.S. and delivery to more than 50,000 zip codes in Europe. As an expert in shipping goods, FedEx offers express, door-to-door, customs-clearance within Switzerland and to key European, North American and Asian markets.
Looking ahead, FedEx Express Europe said that “in the near term, customers can expect to interact with each company as they always have. Moving forward, they will start to see improvements to their service options and will benefit from greater international coverage. The combination of the FedEx Express international network, the unparalleled TNT European road network and Swiss Post’s national post office network will create more opportunities for customers”.
Bert Nappier, President, FedEx Express Europe and CEO of TNT, commented: “Over the past two years, following our global acquisition of TNT, we have made a lot of progress on our integration journey, achieving many important milestones and elevating our service offering for customers.
“This new joint venture arrangement marks another important step forward for our operations in Europe and will enhance our international express service for Swiss customers as they expand domestically and internationally.”
Dieter Bambauer, Head of PostLogistics and a member of the Swiss Post executive management board, added: “Our customers will benefit from access to an ever wider global express network with FedEx strongly supporting the joint venture. On the other hand, FedEx Express benefits with Swiss Post from the expertise of a major participant in the national logistics market and from its national post office network. With these outstanding conditions, we can support Swiss business connections around the world better than ever.”
Swiss Post also has a joint venture with GLS offering international parcel services to Swiss customers through the GLS network and deliveries in Switzerland through Swiss Post. This joint venture was founded about 20 years ago.
