TNT plans US$303m expansion drive

TNT Logistics said it plans to make China its largest market outside of Europe. The company said it planned to tackle investing US$303m in enlarging its facilities and training more employees, aiming to double annual China sales by 2010. TNT Logistics saw revenue of US$220m from China in 2003, about 5% of its global turnover. Among its biggest earners is an automotive logistics joint venture with the Shanghai Automotive Industry Group.