TNT Express to sell Dutch operations of TNT Fashion
Dutch delivery company TNT Express is exploring options to sell its supply chain business TNT Fashion's Dutch operations.
TNT Fashion Group, the Dutch legal entity of TNT Fashion, offers broad range of supply chain services for fashion and retail industry, which includes storage, packing/repacking, distribution and retailing services.
The Netherlands headquartered entity serves wide range of customers from high-end designer labels to high-volume retailers.
TNT Express is planning to complete this process by the end of 2013.
The sale of dutch supply chain business is under a restructure plan designed by TNT Express new CEO Tex Gunning.
TNT Express will design the selling process such that there will be no affect on the terms and conditions of existing contracts with customers and suppliers.
Proposal to sell TNT Fashion Group came following a failed takeover bid ($6.9 billion) by UPS in January 2013 due to the opposition from European Union regulators.
TNT Fashion Group employs approximately 660 people.