Financial Daily from THE HINDU group of publications
Wednesday, Mar 15, 2006
Financial Daily from THE HINDU group of publications Wednesday, Mar 15, 2006 |
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Logistics
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Mergers & Acquisitions TNT scouting for acquisitions in India Our Bureau
Thrust areas TNT India would offer courier and cargo services through air and plans to start road services by mid-March. `We are focusing on metros and urban areas as it has large middle class, which provides huge business opportunities'.
New Delhi , March 14 Having announced an investment of 100 million euros in the next five years, global logistics player, TNT, is now looking at acquiring domestic courier companies to expand its market in the country. The company is also set to recruit 600-800 people in India in 2006, over and above its present headcount of 1,000 to support its expansion plan. To broaden the domestic network, TNT plans to set up more depots and expand its vehicle fleet. "Apart from growing through organic route, we are open to acquisitions. "We are looking at domestic companies with good infrastructure and sound client portfolio," Ms Marie-Christine Lombard, Group Managing Director, TNT Express, said declining to divulge any further details. Various industries such as textile, pharmaceutical, spare parts and telecom, among others, have huge potential, she added. "We are focusing on metros and urban areas as it has large middle class, which provides huge business opportunities to us," she said. Starting Monday TNT India, would offer courier and cargo services through air. It also plans to start road services by mid-March.
BILL ON COURIER FIRMS
Reacting to the new proposed Bill barring courier companies to carry letters weighing less than 500 grams, to be brought in the Lok Sabha by Department of Post (DoP), Mr Abhik Mitra, Managing Director, TNT India said, "This Bill is totally unwarranted and not in the interest of anyone as it would affect small courier companies." "As about thirty per cent of the total revenue of courier companies accrue from this segment, the present Bill would certainly affect the industry as a whole and for this we are raising the issue to the Government through industry chambers and Express Council of India," Mr Mitra added.
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