The deal will create a global logistics-services entity with more than $60bn in annual revenues, while giving UPS a more comprehensive express network in Europe. TNT Express's intra-Europe road freight network will be integrated into UPS's existing capabilities on the continent. At the same time, the companies said, customers of TNT Express will gain from UPS's access to the North American market. "The combination of the two businesses benefits from a strong cultural fit as both entities have strong management teams that focus on customer service, operational excellence and good corporate citizenship," the companies said in a statement. In the coming months, they will combine operations and develop joint plans with the aid of an Integration Committee. UPS serves more than 220 countries and territories. TNT Express operates road and air-transportation networks in Europe, the Middle East, Africa, Asia-Pacific and the Americas. It has a fleet of 30,000 road vehicles and 46 aircraft.
Read Full Article
Timely, incisive articles delivered directly to your inbox.