[photopress:Peter_Bakker.gif,full,alignright]TNT has completed its acquisition of Hoau, a major freight and parcels delivering company in China. The two firms announced the deal in 2006, but it was only approved by the Chinese government last week.
The acquisition will enable TNT to link China with its Asian road network, according to its CEO, Peter Bakker (pictured).
Michael Drake, MD for TNT Greater China, commented, ‘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.’
Hoau’s network covers an extensive 1,100 depots, 3,000 vehicles and 56 hubs in China.
Source: PR TNT