TNT Logistics and DSV A/S receive approval from the EU Commission for Nordic Joint Venture
28 June 2002 - 15:23 CET
TNT Logistics and and transport company DSV A/S announced that their joint venture in the Nordics has received approval from the EU Commission. The joint venture will trade under the name TNT DFDS Transport Logistics.TNT Logistics acquired, through its parent company TPG N.V., a 50% stake in DFDS Transport Logistics (registered as DSV Logistik Holding A/S), a subsidiary of DSV A/S. The joint venture, TNT DFDS Transport Logistics, employs some 700 staff and offers services in TNT Logistics' key strategic sectors of fast moving consumer goods, hi-tech and automotive. The joint venture operates 40 multi-user warehouse sites totalling 300,000m2 in Denmark, Sweden, Finland and Norway. Its customers include major international and local companies in the Nordic region. Annual revenues in 2001 were approximately EUR 110 million.
Roberto Rossi, TPG's Group Managing Director for TNT Logistics, says: "The joint venture fills an important strategic gap for TPG and will create a leading logistics player in the Nordic region."
