UPS and TNT Express have submitted remedies to the European Commission to address its competition concerns, extending the review period further. The submission extends the EC’s review period by 15 business days to 5 February 2013. The proposed remedies involve the sale of the business activities and its assets. UPS needs to ensure the long-term viability of these activities and the continuity of service already provided by TNT Express. In order to receive approval, the EC will market-test the remedies. […]
Menzies Distribution has bought Bibby Distribution for an undisclosed sum as it looks to broaden its geographical reach and service offering.
TNT Express has admitted that it is unlikely to hit its profit improvement target for 2015, following an increase in competitive pressures and poor trading conditions in Europe.