TNT invests in Chinese unit to expand
By Winny Wang |
September 9, 2010, Thursday
|
Print Edition
Print Edition
GLOBAL express giant TNT will pump an additional 1.5 billion yuan (US$221 million) in its wholly owned Chinese subsidiary TNT Hoau as it seeks to double revenue within five years.
The money will go toward infrastructure such as factories and vehicles and improving information technology system as well as training professionals and enhancing the firm's brand image, said Xu Shuibo, chief executive of Hoau, yesterday in Shanghai.
''We aim to double our revenue from road transportation by 2015 to become a leader in the industry and Hoau already ranks in the top 10 among 780,000 road transport companies in China by its 'Day-Definite Service','' Xu said at Hoau's 15th anniversary ceremony.
Hoau launched the "Day-Definite Road Service" in February 2009 to target companies which need shipments arriving on time and in good condition. The service costs about one-third the air cargo rate and is faster than truckload road services which can't guarantee arrival times.
After a year of growth, the service now covers more than 800 depots in 26 key cities nationwide and the firm aims to expand it nationally with the additional investment.
''China is a strategically vital market for TNT globally,'' said Michael Drake, regional managing director of TNT North Asia. He added TNT Hoau is an integral part of TNT in China and its ''excellent performance has boosted our confidence in continuing our investment in China's road distribution business.''
Hoau operates 56 hubs in 550 cities in China.
The money will go toward infrastructure such as factories and vehicles and improving information technology system as well as training professionals and enhancing the firm's brand image, said Xu Shuibo, chief executive of Hoau, yesterday in Shanghai.
''We aim to double our revenue from road transportation by 2015 to become a leader in the industry and Hoau already ranks in the top 10 among 780,000 road transport companies in China by its 'Day-Definite Service','' Xu said at Hoau's 15th anniversary ceremony.
Hoau launched the "Day-Definite Road Service" in February 2009 to target companies which need shipments arriving on time and in good condition. The service costs about one-third the air cargo rate and is faster than truckload road services which can't guarantee arrival times.
After a year of growth, the service now covers more than 800 depots in 26 key cities nationwide and the firm aims to expand it nationally with the additional investment.
''China is a strategically vital market for TNT globally,'' said Michael Drake, regional managing director of TNT North Asia. He added TNT Hoau is an integral part of TNT in China and its ''excellent performance has boosted our confidence in continuing our investment in China's road distribution business.''
Hoau operates 56 hubs in 550 cities in China.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
