TNT Express: Difference between revisions
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'''TNT Express''' is an international [[courier]] delivery services company, now a subsidiary of [[FedEx]], with its headquarters in [[Hoofddorp]], [[Netherlands]]. The firm has fully owned operations in |
'''TNT Express''' is an international [[courier]] delivery services company, now a subsidiary of [[FedEx]], with its headquarters in [[Hoofddorp]], [[Netherlands]]. The firm has fully owned operations in sixtyone countries, and delivers documents, parcels and pieces of freight to over two hundred countries. The company recorded sales of €6.91 billion in 2015. |
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Its major competitors include [[United Parcel Service]] (UPS) and [[DHL Express]]. TNT's competitor [[FedEx]] reached an agreement to buy the company in April 2015, which was completed on 25 May 2016. |
Its major competitors include [[United Parcel Service]] (UPS) and [[DHL Express]]. TNT's competitor [[FedEx]] reached an agreement to buy the company in April 2015, which was completed on 25 May 2016. |
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Revision as of 07:32, 28 September 2019
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| Company type | Subsidiary |
|---|---|
| Industry | Courier |
| Predecessor | TNT N.V. |
| Founded |
|
| Founder | Ken Thomas |
| Headquarters | Hoofddorp, Netherlands |
Key people | Bert Nappier (CEO) Helena Jansson (CFO) Roel Staes (SVP Legal) |
| Services | Express and freight delivery services |
| Revenue | €6.91 billion (2015)[1] |
| Parent | FedEx |
| Website | www |
TNT Express is an international courier delivery services company, now a subsidiary of FedEx, with its headquarters in Hoofddorp, Netherlands. The firm has fully owned operations in sixtyone countries, and delivers documents, parcels and pieces of freight to over two hundred countries. The company recorded sales of €6.91 billion in 2015.
Its major competitors include United Parcel Service (UPS) and DHL Express. TNT's competitor FedEx reached an agreement to buy the company in April 2015, which was completed on 25 May 2016.
History
On 26 May 2011, TNT Express separated from its parent company, TNT N.V., taking a listing on the Euronext Amsterdam Stock Exchange.[2] TNT N.V. subsequently renamed itself as PostNL. On 19 March 2012, UPS announced its intention to acquire TNT Express for $6.7 billion.[3] However, the deal fell through in January 2013, after it was announced that UPS had failed to obtain permission from the European Commission, and as such, had been blocked on competition grounds.[4]
In April 2015, FedEx announced its agreed intention to buy TNT Express for €4.4bn ($4.8bn; £3.2bn), as it looked to expand its operations in Europe.[5] The European Commission launched a further investigation into the planned acquisition on 31 July 2015, with a deadline for its decision due by 7 December 2015.[6] On 8 January 2016, the European Commission unconditionally approved the acquisition by FedEx, and the deal was completed on 25 May 2016.[7][8]
In August 2017, TNT Express was very badly affected by the NotPetya cyber attack, partly because some operations and communication systems are based in Ukraine, where the cyber attack originated. TNT Express had to operate using "manual processes" for a considerable period creating very large backlogs. Some records were entirely lost.[9]
Operations
The company offers road and air delivery services in Europe, the Asia-Pacific region, the Americas, the Middle East, and Africa. In June 2014, TNT conducted a rail freight trial assessing improving support to businesses in the United Kingdom, and cutting carbon emissions.[10]
References
- ^ "Annual Report 2015" (PDF). TNT Express. Retrieved 16 February 2016.
- ^ Steinglass, Matt (26 May 2011). "TNT Express to focus on emerging markets". Financial Times. Retrieved 26 May 2011.
- ^ "UPS agrees to buy TNT Express for $6.7B". USA Today. 19 March 2012. Retrieved 19 March 2012.
- ^ "Major Express Freight and Logistics Merger Torpedoed by European Commission". Handy Shipping Guide. Retrieved 15 January 2013.
- ^ "FedEx to buy rival TNT Express for €4.4bn". BBC News. 7 April 2015.
- ^ "Mergers: Commission opens in-depth investigation into proposed acquisition of TNT by FedEx". European Commission. 31 July 2015. Retrieved 8 September 2015.
- ^ "EU set to greenlight FedEx/TNT Express tieup". AFP. 21 October 2015. Archived from the original on 22 October 2015. Retrieved 23 October 2015.
{{cite news}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ Berman, Jeff (2 November 2015). "Acceptance period for FedEx-TNT deal extended into January". Logistics Management. Retrieved 2 November 2015.
- ^ Baraniuk, Chris (9 August 2017). "Customers 'furious' with TNT after cyber-attack meltdown". BBC News. Retrieved 9 August 2017.
- ^ Rail Trial Could Lead to Better Support to UK Businesses and Cut Carbon Emissions
External links
