TNT Express
 | |
 TNT Express headquarters | |
| Industry | Transportation |
|---|---|
| Predecessor | TNT NV |
| Founded | May 26, 2011 |
| Defunct | December 1, 2021 |
| Headquarters | , Netherlands |
Area served | Worldwide |
Key people | Karen Reddington (CEO) |
| Services | Express Delivery Logistics Services |
| Revenue | €15.6 billion (2020) |
| Owner | FedEx |
| Parent | FedEx (since 2016) |
| Website | tnt |
TNT Express was an international courier delivery services company with its headquarters in Hoofddorp, Netherlands. It was acquired by FedEx.
History
[edit]The namesake Thomas Nationwide Transport grandfather company was originally started in 1946 with a single truck in Adelaide, South Australia.
On 26 May 2011, TNT Express separated from its parent company, TNT NV, being listed on the Euronext Amsterdam.[1] TNT NV subsequently renamed itself PostNL.
In March 2012, UPS announced its intention to acquire TNT Express for US$6.7 billion.[2] However, the deal fell through in January 2013, after it was announced that UPS had failed to obtain permission from the European Commission, and as such, had been blocked on competition grounds.[3]
In April 2015, FedEx announced its agreed intention to buy TNT Express for €4.4 billion, as it looked to expand its operations in Europe.[4] The European Commission launched an investigation into the planned acquisition[5] and on 8 January 2016, approved the deal. The transaction was completed on 25 May 2016.[6][7]
In June 2017, TNT Express was badly affected by the NotPetya cyber attack, partly because some operations and communication systems were based in Ukraine, where the cyber attack originated.[8] TNT had to operate using manual processes for months creating very large backlogs. Some records were entirely lost.[9]
Operations
[edit]
TNT offered road and air delivery services in Europe, the Asia Pacific region, the Americas, the Middle East, and Africa. In June 2014, TNT conducted a rail freight trial assessing improving support to businesses in the United Kingdom, and cutting carbon emissions.[10]
References
[edit]- ^ Steinglass, Matt (26 May 2011). "TNT Express to focus on emerging markets". Financial Times. Archived from the original on 28 May 2011. Retrieved 26 May 2011.
- ^ "UPS agrees to buy TNT Express for $6.7B". USA Today. 19 March 2012. Archived from the original on 20 March 2012. Retrieved 19 March 2012.
- ^ "Major Express Freight and Logistics Merger Torpedoed by European Commission". Handy Shipping Guide. Archived from the original on 30 January 2013. Retrieved 15 January 2013.
- ^ "FedEx to buy rival TNT Express for €4.4bn". BBC News. 7 April 2015. Archived from the original on 12 July 2020. Retrieved 21 July 2018.
- ^ European Commission (31 July 2015). "Mergers: Commission opens in-depth investigation into proposed acquisition of TNT by FedEx" (Press release). Brussels, Belgium: European Commission. Archived from the original on 16 September 2015. Retrieved 8 September 2015.
- ^ "EU set to greenlight FedEx/TNT Express tieup". AFP. 21 October 2015. Archived from the original on 22 October 2015. Retrieved 23 October 2015.
- ^ Berman, Jeff (2 November 2015). "Acceptance period for FedEx-TNT deal extended into January". Logistics Management. Archived from the original on 27 January 2016. Retrieved 2 November 2015.
- ^ "NotPetya cyber-attack cost TNT at least $300m". BBC News. 20 September 2017. Archived from the original on 6 December 2020. Retrieved 21 December 2020.
- ^ Baraniuk, Chris (9 August 2017). "Customers 'furious' with TNT after cyber-attack meltdown". BBC News. Archived from the original on 9 August 2017. Retrieved 9 August 2017.
- ^ TNT Express. "Rail Trial Could Lead to Better Support to UK Businesses and Cut Carbon Emissions". TNT (Press release). Archived from the original on 12 July 2020. Retrieved 2 February 2016.
External links
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| Other | |
