Business Daily from THE HINDU group of publications
Saturday, Sep 02, 2006
Business Daily from THE HINDU group of publications Saturday, Sep 02, 2006 |
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Air Cargo Corporate - Mergers & Acquisitions TNT Express buys Speedage Our Bureau
Bangalore , Sept 1 The Netherlands-based TNT Express today announced the acquisition of the Mumbai-based ARC India Ltd, which operates under the trade name Speedage Express Cargo Services, as part its strategic objective to become the leading provider of express deliveries in the emerging markets, especially in India. TNT India, which recently launched its domestic service to become a fully integrated service provider, said that it saw synergy in Speedage Express's road-based cargo express service. It expects TNT Express to grow overall turnover to 100 million euros by March 2007. The acquisition would give TNT a strong infrastructure, adding 514 depots, 26 transit hubs and a fleet of vehicles along with clientele.
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