TNT, global provider of express and mail services, announced the completion of the acquisition of Hoau, freight and parcels delivery company in China.
The government of the People's Republic of China approved the transaction. Parties agreed not to disclose any further financial information.
"The acquisition of Hoau is a significant milestone for TNT. It will help us achieve our ambition to build the no. 1 distribution network in China by giving us comprehensive road coverage. The move is at the core of our strategic focus on integrated domestic and international networks. This will also enable us to link China with our Asian Road Network,” said Peter Bakker, CEO of TNT.
"We are very pleased with the acquisition of Hoau. Hoau’s network gives us a clear competitive advantage in China by improving distribution flow for our customers and strengthening TNT’s growth,” said Michael Drake, Managing Director of TNT Greater China.
Established in 1995, Hoau’s network includes 1,100 depots, 3,000 vehicles and 56 hubs in China covering all major and second-tier cities. Hoau currently has 12,000 employeesm reports press-service of TNT.
The government of the People's Republic of China approved the transaction. Parties agreed not to disclose any further financial information.
"The acquisition of Hoau is a significant milestone for TNT. It will help us achieve our ambition to build the no. 1 distribution network in China by giving us comprehensive road coverage. The move is at the core of our strategic focus on integrated domestic and international networks. This will also enable us to link China with our Asian Road Network,” said Peter Bakker, CEO of TNT.
"We are very pleased with the acquisition of Hoau. Hoau’s network gives us a clear competitive advantage in China by improving distribution flow for our customers and strengthening TNT’s growth,” said Michael Drake, Managing Director of TNT Greater China.
Established in 1995, Hoau’s network includes 1,100 depots, 3,000 vehicles and 56 hubs in China covering all major and second-tier cities. Hoau currently has 12,000 employeesm reports press-service of TNT.