The world’s Big Four express namesgradually step into an independentrunning term in China – which hasnodded their activities of operatingwholly owned affiliates in the countryaccording to the commitments to itsWTO entry – coinciding with two acquisitions,China Transportation Watchreported.
Holland-based TNT officially announcedthe completion of the HoauLogistics Group acquisition on March14. The Chinese authorities approved ita few days later. However, the companydeclined to unveil the deal’s accountinginformation. Industry analysts pointout that the goal of TNT is to integrateits businesses in China on the basis ofthe Chinese company’s network and its170,000 clients. TNT will build on thisnetwork and use it to further access itsnetwork worldwide.
Tianjin DTW Group Co., Ltd., anotherChinese logistics service providerbased in Tianjin, near Beijing, capital ofChina, announced that its sale of a 50percent stake in Federal Express-DTWCo., Ltd. was completed on March 1.FedEx Express reached an acquisitionagreement about the deal and DTWGroup’s domestic express assets valuedat about US$400 million on January24, 2006.