TNT Express

For the newspaper in Trinidad and Tobago, see Trinidad Express Newspapers.
TNT
Naamloze vennootschap
Traded as Euronext: TNTE
Industry Courier
Predecessor TNT N.V.
Founded
  • May 26, 2011 (2011-05-26) as a standalone company
  • 1946 in Australia as Thomas Nationwide Transport
Headquarters Hoofddorp, Haarlemmermeer, North Holland, Netherlands
Key people
 David Binks (CEO), Maarten de Vries (CFO), Mark Allen (SVP Legal)
Services Express and freight delivery services, charter airline
Revenue €6.91 billion (2015)[1]
Parent FedEx
Website www.tnt.com

TNT Express is an international courier delivery services company with headquarters in Hoofddorp, Netherlands. The firm has fully owned operations in 61 countries and delivers documents, parcels and pieces of freight to over 200 countries. The company recorded sales of €6.91 billion in 2015. Its major competitors include United Parcel Service (UPS) and DHL. TNT's competitor FedEx reached an agreement to buy the company in April 2015, which was completed on 25 May 2016.

History

A TNT Express delivery van in Tallinn

Shortly after the cessation of hostilities of World War II in Asia, Australian Ken Thomas set up Thomas Nationwide Transport with a single truck in Sydney.[2][3] At the same time, Hungarian immigrant Peter Abeles had formed Alltrans with fellow Hungarian immigrant George Rockey. In 1967, Alltrans merged with Thomas Nationwide Transport, and the combined companies became TNT Ltd., operating then in both Australia and New Zealand. Under Abeles' guidance as managing director, TNT quickly expanded, and by the 1980s had established a presence in 180 countries and was termed "the second biggest transport empire in the world, operating by road, rail, sea, and air".[4][5]

Expanding globally, by the 1980s the focus was on Europe, and TNT became the first transport company to buy its own aircraft, creating the first pan-European overnight service using a dedicated fleet. In 1992, the company co-founded GD Express Worldwide, owning 50% of the organisation, with the other 50% of shares held between partners KPN (Dutch telecoms and postal company) and the state-owned postal companies of Canada, France, West Germany and Sweden. Having floated on the Dutch Stock Exchange in 1994/5, KPN bought TNT in a friendly merger in 1996. Two years later, KPN demerged its postal division and combined it with TNT to form TNT N.V.

On 26 May 2011, TNT Express was demerged from its parent company, taking a listing on the Euronext Amsterdam Stock Exchange.[6] TNT N.V. subsequently renamed itself PostNL.

On March 19, 2012, UPS announced its intention to acquire TNT Express for $6.7 billion.[7] 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.[8]

In April 2015, FedEx announced its agreed intention to buy TNT Express for €4.4bn ($4.8bn; £3.2bn), as it looks to expand its operations in Europe.[9] 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.[10] On January 8, 2016, the European Commission unconditionally approved the acquisition by FedEx. The deal was completed on May 25, 2016.[11][12]

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 UK businesses and cutting carbon emissions.[13]

References

  1. ↑ "Annual Report 2015" (PDF). TNT Express. Retrieved 16 February 2016.
  2. ↑ http://www.roadtransporthall.com/t/1251-12-thomas-ken
  3. ↑ "History of TNT". TNT Express.
  4. ↑ Hawke, Bob (29 June 1999). "Transport giant a passionate patriot". The Australian.
  5. ↑ Associated Press (29 June 1999). "Peter Abeles, 75, Australian Business Leader". The Associated Press.
  6. ↑ Steinglass, Matt (26 May 2011). "TNT Express to focus on emerging markets". Financial Times. Retrieved 26 May 2011.
  7. ↑ "UPS agrees to buy TNT Express for $6.7B". USA Today. 19 March 2012. Retrieved 19 March 2012.
  8. ↑ "Major Express Freight and Logistics Merger Torpedoed by European Commission". Handy Shipping Guide. Retrieved 15 January 2013.
  9. ↑ "FedEx to buy rival TNT Express for €4.4bn". BBC News. 7 April 2015.
  10. ↑ "Mergers: Commission opens in-depth investigation into proposed acquisition of TNT by FedEx". European Commission. 31 July 2015. Retrieved 8 September 2015.
  11. ↑ "EU set to greenlight FedEx/TNT Express tieup". AFP. 21 October 2015. Retrieved 23 October 2015.
  12. ↑ Berman, Jeff (2 November 2015). "Acceptance period for FedEx-TNT deal extended into January". Logistics Management. Retrieved 2 November 2015.
  13. ↑ Rail Trial Could Lead to Better Support to UK Businesses and Cut Carbon Emissions

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