Melville, NY – February 16, 2009 - TNT today announced the acquisition of 100% of LIT Cargo, a leading express delivery company in Chile. The acquisition gives TNT a strong nationwide road network in Chile and strengthens its position in the country’s domestic express delivery market. Furthermore, it adds a key building block to the development of its South American Road Network (SARN). The acquisition fully fits with TNT’s strategy to become the intra-regional express leader in South America and to leverage this regional strength to grow intercontinental flows.
LIT Cargo is a family-owned, profitable road express company that was founded in 1952. The company operates a nationwide, highly automated express parcel network, comprising of 55 depots and 496 vehicles. It employs 1,500 people. Complementing TNT’s already strong international position in Chile, LIT Cargo’s network will allow TNT to bring customers an integrated offering of road, air, international, domestic and cross-borders services to and from the country. LIT Cargo’s compound annual revenue growth of 25% over the past three years has outpaced that of the Chilean market. The company serves several key vertical markets, including automotive, pharmaceuticals and high tech.
Marie-Christine Lombard, Group Managing Director Express, member of TNT’s Board of Management, said: “TNT is on its way to becoming the intra-regional express leader in South America. We are developing strong operational platforms in Chile and Brazil to offer customers an integrated portfolio of domestic, cross border and intercontinental services.”
“TNT’s South American leadership strategy is a key component of the Group’s emerging platform strategy,” Curtis Watson, Regional Managing Director, Latin America said. “With the acquisition of LIT Cargo, TNT is showing a clear commitment to delivering on its emerging market strategy and is demonstrating its dominant position in the South American region.”
“This is also great news for our customers, as it enhances TNT’s value proposition and meets clients’ needs,” added Marcelo Perez, Country General Manager, Chile. “Customers in Chile can now benefit from TNT’s broad range of services and a fully integrated domestic and regional coverage via the first-to-market South American Road Network (SARN), linking Chile to Brazil and Argentina.
Before acquiring LIT Cargo, TNT was a leading provider of time-sensitive express distribution solutions in Chile, operating primarily in the international sector. The company started to service Chile in 1986 through an agent, and took ownership of its operations in 1995. It then started to operate in the domestic express market in 2002.
About TNT
TNT provides businesses and consumers worldwide with an extensive range of services for their mail and express delivery needs. Headquartered in the Netherlands, TNT offers efficient network infrastructures in Europe and Asia and is expanding operations worldwide to maximise its network performance. TNT serves more than 200 countries and employs more than 163,000 people. Over 2008, TNT reported Euro11.1 billion in revenues and an operating income of Euro 982 million. TNT is officially quoted on the Amsterdam Stock Exchange. TNT recognises its social responsibility and has formed partnerships with the United Nations World Food Programme and the United Nations Environment Programme to fight hunger and pollution in the world. Our efforts are being recognised: in 2008 TNT again reached the highest score of all companies included in the Dow Jones Sustainability Index and in the Carbon Disclosure Project in the carbon intensive sector. More information about TNT can be found on its website http://group.tnt.com.
LIT Cargo is a family-owned, profitable road express company that was founded in 1952. The company operates a nationwide, highly automated express parcel network, comprising of 55 depots and 496 vehicles. It employs 1,500 people. Complementing TNT’s already strong international position in Chile, LIT Cargo’s network will allow TNT to bring customers an integrated offering of road, air, international, domestic and cross-borders services to and from the country. LIT Cargo’s compound annual revenue growth of 25% over the past three years has outpaced that of the Chilean market. The company serves several key vertical markets, including automotive, pharmaceuticals and high tech.
Marie-Christine Lombard, Group Managing Director Express, member of TNT’s Board of Management, said: “TNT is on its way to becoming the intra-regional express leader in South America. We are developing strong operational platforms in Chile and Brazil to offer customers an integrated portfolio of domestic, cross border and intercontinental services.”
“TNT’s South American leadership strategy is a key component of the Group’s emerging platform strategy,” Curtis Watson, Regional Managing Director, Latin America said. “With the acquisition of LIT Cargo, TNT is showing a clear commitment to delivering on its emerging market strategy and is demonstrating its dominant position in the South American region.”
“This is also great news for our customers, as it enhances TNT’s value proposition and meets clients’ needs,” added Marcelo Perez, Country General Manager, Chile. “Customers in Chile can now benefit from TNT’s broad range of services and a fully integrated domestic and regional coverage via the first-to-market South American Road Network (SARN), linking Chile to Brazil and Argentina.
Before acquiring LIT Cargo, TNT was a leading provider of time-sensitive express distribution solutions in Chile, operating primarily in the international sector. The company started to service Chile in 1986 through an agent, and took ownership of its operations in 1995. It then started to operate in the domestic express market in 2002.
About TNT
TNT provides businesses and consumers worldwide with an extensive range of services for their mail and express delivery needs. Headquartered in the Netherlands, TNT offers efficient network infrastructures in Europe and Asia and is expanding operations worldwide to maximise its network performance. TNT serves more than 200 countries and employs more than 163,000 people. Over 2008, TNT reported Euro11.1 billion in revenues and an operating income of Euro 982 million. TNT is officially quoted on the Amsterdam Stock Exchange. TNT recognises its social responsibility and has formed partnerships with the United Nations World Food Programme and the United Nations Environment Programme to fight hunger and pollution in the world. Our efforts are being recognised: in 2008 TNT again reached the highest score of all companies included in the Dow Jones Sustainability Index and in the Carbon Disclosure Project in the carbon intensive sector. More information about TNT can be found on its website http://group.tnt.com.
