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 61 countries, and delivers documents, parcels and pieces of freight to over two hundred countries. The company recorded sales of EUR6.91 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.
Video TNT Express
History
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. 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".
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 October 1996.
In June 1998, 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. TNT N.V. subsequently renamed itself as PostNL. On 19 March 2012, UPS announced its intention to acquire TNT Express for $6.7 billion. 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.
In April 2015, FedEx announced its agreed intention to buy TNT Express for EUR4.4bn ($4.8bn; £3.2bn), as it looked to expand its operations in Europe. 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. On 8 January 2016, the European Commission unconditionally approved the acquisition by FedEx, and the deal was completed on 25 May 2016.
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.
Maps TNT Express
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.
References
External links
- Official website
- Merger website
Source of article : Wikipedia
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