TNT Express has taken delivery of 69 Iveco Eurocargos for its multi-drop urban distribution fleet, and will be benchmarking their performance against competitor brands. The 30 Eurocargo E16s and 39 low-height EL18s are the first Ivecos to join the parcel giant’s fleet in several years. They form part of a £12m investment on a bumper order of 300 Euro-5 mid-range trucks for its urban delivery fleet renewal programme. Both models feature an automated EuroTronic transmission as standard, while power is […]
TNT Express saw a 13% drop in EMEA operating profit in the third quarter, despite a 3,2% turnover rise, due to “challenging trading conditions in Europe”. The parcel firm, which last week received a statement of objections from the European Commission ahead of its acquisition by UPS, did not perform as well in its EMEA operations as it had during the same period in 2011, its Q3 trading results revealed. Reported operating profit margins fell from 6.4% in Q3 2011 […]
UPS is set to acquire TNT Express NV in a deal that will create a €45bn (£37.4bn) global logistics firm. The deal values the Dutch firm at approximately €5.16bn, following its increased offer of €9.50 per ordinary share. UPS says that in acquiring TNT it will fulfill its long-standing aim to expand its European operations. According to the Motor Transport Top 100 the combined business will generate a UK turnover of approximately£1.3bn – placing it level with Wincanton as the […]
TNT UK’s pre-tax loss ballooned to £22.1m last year ahead of its acquisition by FedEx Corporation in May 2016.