“The decision comes after an extensive review of the prospects for the domestic road business in India within TNT Express’ business portfolio,” TNT said in a statement. “TNT Express will continue to offer inbound and outbound India services, via its globally interconnected networks. It will also continue to provide customer-specific special services, in particular to the health-care and service logistics segments.”
TNT said its domestic road senior management and approximately 1,000 employees will move to the new employer, while on-the-ground facilities, IT and systems and processes will be supported by TNT Express during the transition process. TNT also said IEP’s logistics subsidiary will become its preferred partner for domestic road delivery in India.
The sale takes effect Dec. 30. Financial terms of the deal were not disclosed.
