TNT has acquired 100% of LIT Cargo, an express delivery company in Chile. The acquisition gives TNT a strong nationwide road network in Chile and strengthens its position in the country’s domestic express delivery market, says TNT.
“TNT is on its way to becoming the intra-regional express leader in South America. We are developing strong operational platforms in Chile and Brazil to offer customers an integrated portfolio of domestic, cross border and intercontinental services,” said Marie-Christine Lombard, Group Managing Director Express.
The acquisition of LIT also adds a key building block to the development of TNT's South American Road Network (SARN) in accordance with TNT’s strategy to become the intra-regional express leader in South America and to leverage this regional strength to grow intercontinental flows.
LIT Cargo is a family-owned, profitable road express company that was founded in 1952. The company operates a nationwide, highly automated express parcel network, comprising of 55 depots and 496 vehicles. It employs 1,500 people.
TNT said LIT complements the company's strong international position in Chile. LIT Cargo’s network will allow TNT to bring customers an integrated offering of road, air, international, domestic and cross-border services to and from the country, said TNT.
LIT Cargo’s compound annual revenue growth of 25% over the past three years has outpaced that of the Chilean market. The company serves several key vertical markets, including automotive, pharmaceuticals and high tech.