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TNT aims to sell off its logistics division
Page 6
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DUTCH GIANT TNT is selling its logistics division to focus on its core business of mail and freight delivery.
Chief executive Peter Bakker says that although the logistics business is a strong operation, it no longer fits with the firm's strategic focus for the future.
"The focus on networks and the exit of logistics will allow simplification of our organisation," he adds, The sale of the £2.3bn TNT logistics division, the world's second-biggest provider of contract logistics, is expected to be completed by the end of next year, subject to the approval of shareholders.
The group will retain a interest in the logistics sector, including its In-Night and High-Tech spare parts operations, worth £230m.
Bakker says a review over recent months concluded that the best way to develop the business was to focus on the company's strengths — designing, implementing and running delivery network businesses.
This is our core competency," Bakker adds. It lies at the heart of our business going forward in the future."
Deals to buy Spanish express delivery firm TG+ and China's largest freight and parcels operator, Hoau, are expected to be completed next year.