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TNT is Europe's i gest haulier
Page 8
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• TNT has overtaken Exel as the largest logistics company in Europe, according to the latest figures from analyst Transport Intelligence.
The ranking is based on the company's total earnings in the latest year for which figures are available.
TNT Logistics leapfrogged the previous leader Exel largely due to the acquisition of Transport Nicolas in France and the joint venture with DSV DFDS in Scandinavia.
Exel has concentrated on increasing business internally rather than by buying other companies and has therefore grown more slowly, says the analyst.
Transport Intelligence releases its rankings twice a year and its lead analyst, John Manners-Bell, says that he believes the largest companies' enthusiasm to grow by buying other firms would continue to slow.
He adds: "There are fewer companies available with all the qualities needed by the buyers.'