The €4.4bn takeover of TNT by FedEx is complete. And the good news is that there will be no lay-offs, they claim, amongst the 400k workforce. The new firm will have its HQ in the former TNT base at Hoofddorp in the Netherlands and the main European hub will be Charles de Gaulle airport in Paris.
David Bronczek, President & CEO of FedEx Express said it was “an acquisition based on growth in a growing market.” So they’re pretty bullish.
And it’s going to be a huge provider with 657 planes and 150k vehicles making them one of the biggest firms in the field anywhere in the world. But with the merger, top brass were keen to point out they are not threatened by Amazon in the fulfilment game but instead intend to keep on working with the ecommerce giant.
Bronczek said: “Amazon is a big customer of ours. They need our services. Look at a company like Walmart, also a big customer of ours, also with some of its own logistics capabilities. We continue to have a great relationship with them, as we will with Amazon.”
