TNT has announced the signing of an agreement to acquire Expresso Araçatuba Transportes e LogÃÂstica S.A., a key delivery partner of TNT Mercúrio in Brazil's Central West and North regions since 2001. TNT will acquire 100 per cent control of the company with effect from the closing date of the €54 million transaction which is expected by early May, it said in a statement. "This acquisition is a logical next step to building a pan-Brazilian network. On top of strengthening … [Read more...] about TNT to acquire Brazilian delivery partner
Leaderboard
Courier & Mail
UPS CEO warns against protectionism
Fresh from announcing a 56 per cent plummet in first quarter earnings, UPS CEO Scott Davis warned that protectionist moves would seroiusly danger the fragile global economy. “UPS will emerge from these difficult times as a more efficient and finely-honed enterprise,†said Davis. He added: “In this worldwide recession, no one should lose focus on global trade. It is one of the most important tools we have to lift us out of this financial crisis. The fragile economic conditions … [Read more...] about UPS CEO warns against protectionism
TNT opens expanded Regional Hub in Singapore
The expanded S$20 million facility, capable of handling over 300 tonnes of cargo per day, is a key component of the express logistics company's pan-Asian road network and is Singapore's first integrated air and road hub. In late 2005 TNT hit upon the idea of developing a road network connecting China with Southeast Asia, creating what was essentially a small scale version of their extensive European road network. Named the Asia Road Network (ARN), the basic pan-Asian land network linking China … [Read more...] about TNT opens expanded Regional Hub in Singapore
UPS sees 1Q profit plummet 56%
United Parcel Service has reported a 56 per cent drop in first-quarter earnings to US$718 million from $1.49 billion in the year-ago quarter and warned the second quarter will also be difficult. Revenue was off 13.7 per cent at $10.9 billion with the continuing deterioration in global economic activity resulting in decreased revenue and profitability in all business segments, according to UPS. The company added that it took an impairment charge on its entire fleet of 44 DC-8 aircraft for a … [Read more...] about UPS sees 1Q profit plummet 56%
Deutsche Post potential Royal Mail bidder
Germany's Deutsche Post has emerged as a potential bidder for a stake in Britain's Royal Mail, as the UK government attempts to partially privatise the state-owned postal company. The parent of express and logistics giant DHL has joined a short list including TNT and CVC, a private equity company already active in the European postal industry. … [Read more...] about Deutsche Post potential Royal Mail bidder
US freight index shows further March decline
A key measure of industrial shipping in the US has shown a further 3.5 per cent decline from February to March after offering a glimmer of hope in February when it showed its first fractional gain in six months. The Cass Freight Index for shipments declined 22 per cent in March from the same period a year earlier. Freight transportation spending also turned negative after a slim month-to-month gain in February. The measure of expenditures fell 2.1 per cent from February to March and was down a … [Read more...] about US freight index shows further March decline
Ad – After Content
