Announcements were coming thick and fast from TNT when the company scheduled a press conference to present its new strategic focus – mail, express and freight management. Noting the company’s core competencies are in designing, implementing and running delivery network businesses, TNT CEO Peter Bakker was clear when he said key initiatives of its new strategic focus included exiting its logistics business.
At the same time it was announcing a refined strategic direction, TNT said it was in the process of acquiring Hoau Logistics Group, China’s leading freight and parcel transportation operator. The two companies have signed a letter of intent.
The acquisition of Hoau Logistics Group will make TNT the largest privately owned transportation network for freight and parcels in China. The company already claims to operate the largest distribution infrastructure in China with 140 operating facilities representing approximately 26 million square feet of warehouse space.
The company also announced it will acquire Spain’s TG+, a leading domestic distribution company. TG+, which is itself the result of a merger between Transcamer and Gomez in 2003, has revenues of $141 million and operates 57 depots throughout Spain, representing over 1.4 million square feet and operates 140 line-haul trucks.
In November, TNT announced it had opened a 250,000 square-foot distribution center in Stockton, Calif. to handle replacement parts and accessories for BMW North America.
Prior to the BMW announcement, TNT said it had formed a strategic partnership through a joint venture with China’s Cosco Group.