Former TNT UK and Ireland managing director Alistair Cochrane is to join Parcelforce Worldwide as operations director on 25 April. Cochrane left TNT in 2014 and served as interim project director at support services company Amey. He was with TNT for almost three decades in a variety of roles, serving as MD for four years before being replaced by Marianne Culver. Gary Simpson, MD at Parcelforce Worldwide, said: “Alistair brings with him a great deal of experience from other high-profile roles […]
TNT reduced its pre-tax loss and saw its global revenue rise in its final full financial year ahead of its €4.4bn (£3.2bn) purchase by FedEx.
The ongoing threat of strike action at Royal Mail has encouraged many of its customers to switch to rival carriers, while growth in new contracts has slowed, the firm admitted in its half year results.
UPS has announced it has the funding in place for the acquisition of TNT Express, which was announced on 19 March. The US parcels giant will finance the deal by using €3.7bn of cash from its balance sheet and around €1.46bn via existing credit facilities. Totalling €5.16bn, the original deal reached between UPS and TNT Express was for an all-cash offer of €9.50 per ordinary share for the takeover of the Dutch business. In line with Dutch regulatory requirements, UPS […]