TNT eyes India acquisitions to expand

Dutch logistics giant TNT is looking to buy more Indian firms in order to expand its business in one the world's fastest growing economies, said group managing director Marie-Christine Lombard, according to a Reuters report."We are constantly screening the market for possible acquisitions," she said. "We are keen on owning 100 per cent - we are keen on control." TNT expects to grow at more than 25 per cent a year in India, where it first arrived in 1994, Ms Lombard said. The company, which plans to invest EUR100 million (US$131.1 million) over five years in India on growth, excluding acquisitions, has been looking at various small- and medium-sized firms. TNT has 29 hubs, 614 depots and more than 2,280 employees in India and bought India's Speedage Logistics for an undisclosed amount. Germany's DHL Express has bought Blue Dart Express, and TNT looking for more purchases.