TNT Logistics to take over KPN's logistics activities
03 February 2003 - 09:57 CET
TNT Logistics, a division of TPG, and KPN N.V. have signed a five-year agreement whereby KPN will outsource the logistics activities of KPN Logistics to TNT Logistics.Through its subsidiary in the Netherlands, TNT Logistics will perform warehousing and transportation activities for KPN in the Netherlands with associated annual revenues of approximately EUR 20 million.
The agreement further increases TNT Logistics hi-tech/electronics customer base. In addition, the deal builds on TNT Logistics capabilities in the telecoms service sector, where it has particularly strong operations in countries such as Australia, India, France and Italy.
As of March 1, 2003, 163 employees will be transferred from KPN Logistics to TNT Logistics.
