TNT buys China parcel company

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TNT has completed the purchase of Haou, a freight and parcels delivery company in China, for an undisclosed sum.

Haou was launched in 1995 and has 1,100 depots, 3,000 vehicles and 56 hubs in China covering all major and second-tier cities. It currently has 12,000 employees.

The move comes after FedEx made a similar move with a £205m takeover of DTW’s domestic express network in China.

The takeover went through following approval from the Chinese government.

Peter Bakker, TNT chief executive, said: “It will help us achieve our ambition to build the number one distribution network in China by giving us comprehensive road coverage.”

TNT could now link China with its Asian road network, he said.

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