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TNT to invest 1.5b yuan in road transport business in China
By Winny Wang |
September 8, 2010, Wednesday
|
Online Edition
Online Edition
GLOBAL express giant TNT pledged to invest 1.5 billion yuan in its Chinese subsidiary Hoau to expand road transport services in three to five years.
The fund will be invested in infrastructure, such as building factories, buying vehicles, training professionals, improving information technology system and enhancing brand image, said Xu Shuibo, chief executive officer of Hoau, at the company's 15th anniversary ceremony in Shanghai today.
"We aim at doubling our revenue from road transportation by 2015 to become a leader in the industry, and Hoau already ranks the top 10 among 780,000 road transport companies in China by its day-definite service," Xu said.
Hoau launched the "Day-Definite Road Service" in February 2009 to target corporate customers who need shipments arriving on time and in good condition. The service costs about one-third of the air cargo rate and is faster than less-than-truckload road services which cannot guarantee arrival times.
After a year of expansion, the new service now covers more than 800 depots across the country, and the company aims to expand its service nationwide with the 1.5 billion yuan investment.
The fund will be invested in infrastructure, such as building factories, buying vehicles, training professionals, improving information technology system and enhancing brand image, said Xu Shuibo, chief executive officer of Hoau, at the company's 15th anniversary ceremony in Shanghai today.
"We aim at doubling our revenue from road transportation by 2015 to become a leader in the industry, and Hoau already ranks the top 10 among 780,000 road transport companies in China by its day-definite service," Xu said.
Hoau launched the "Day-Definite Road Service" in February 2009 to target corporate customers who need shipments arriving on time and in good condition. The service costs about one-third of the air cargo rate and is faster than less-than-truckload road services which cannot guarantee arrival times.
After a year of expansion, the new service now covers more than 800 depots across the country, and the company aims to expand its service nationwide with the 1.5 billion yuan investment.
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