Press release
TNT announces changes to shareholder structure Spring Global Mail
24 April 2009 at 12:00 CET - Amsterdam, TNT today announced that they have signed an agreement with Singapore Post and Royal Mail on the exit of Singapore Post from the joint venture Spring Global Mail.
The parties agreed that Singapore Post will acquire the Asia-Pacific business of Spring Global Mail and at the same time will exit the global joint venture. TNT and Royal Mail remain committed to the future growth of Spring Global Mail. Spring Global Mail will independently develop new business opportunities in the Asia Pacific region. TNT and Royal Mail will continue to own 100% of Spring Global Mail (TNT’s share in the joint venture will increase from 51% to 67.55%).
Spring Global Mail
Spring Global Mail (G3 Worldwide Mail NV) is a joint venture company formed in 2001 by three of the leading postal organisations – TNT of the Netherlands, Royal Mail Group of the United Kingdom and Singapore Post. Headquartered in Amsterdam and with 1,100 employees worldwide, Spring Global Mail provides creative, reliable and cost effective solutions for all types of businesses sending international mail. For more information, please visit the website: www.springglobalmail.com
About TNT
TNT provides businesses and consumers worldwide with an extensive range of services for their mail and express delivery needs. Headquartered in the Netherlands, TNT offers efficient network infrastructures in Europe and Asia and is expanding operations worldwide to maximise its network performance. TNT serves more than 200 countries and employs more than 163,000 people. Over 2008, TNT reported €11.1 billion in revenues and an operating income of €982 million. TNT is quoted on the Amsterdam Stock Exchange. TNT recognises its social responsibility and has formed partnerships with the United Nations World Food Programme and the United Nations Environment Programme to fight hunger and pollution in the world. Our efforts are being recognised: in 2008, TNT again reached the highest score of all companies included in the Dow Jones Sustainability Index and in the Carbon Disclosure Project in the carbon intensive sector.