TNT N.V, the Dutch Logistics and mail company, has announced that it has teamed up with Japan post, the world’s second largest mail group. When speaking about the strategic partnership, Peter Bakker, chief executive of the Logistics and Postal company, says: “I am delighted that we have started to work with Japan Post on a joint strategic vision.” The Japan Post partnership backs up the strengthening China strategy and TNT have gained traction in the region following the announcement of the addition of two 747 air freighters to the fleet, to fly between Shanghai and Europe.
The move followed last week’s decision by the Japanese parliament to free the mail operator by passing bills related to its privatisation. A joint-venture company will be created by the second quarter of 2006 to oversee the partnership, which will begin with international express operations and later extend to logistics.
The news comes in light of TNT Express having announced that its operating income during the third quarter was up 37% to €96M. Mr Bakker said that it was too early to talk about the structure of the joint venture or the investment involved. Group operating income rose 2.1% to €246M. The company have blamed logistics woes on €18M in costs related to Italian subcontractor fees and the sale of its loss-making French trucking business.
Bakker says that the company’s next step will be to launch a new international premium express product. He says: “In Logistics, we moved ahead with the refocusing of our French operations, and have received offers for large parts of this business.”