Red Star Express PLC has just announced that it has taken over the business interests of TNT.
In a statement by the company said the arrangement is “Further to the acquisition of TNT by FedEx, we write to inform the general public that TNT Management (Bahrain) E.C., has appointed Red Star Express Plc as its Associate in Nigeria effective October 6, 2016”.
As a result of this Red Star said: “By this appointment, Red Star Express Plc. is authorized to handle all TNT inbound and outbound packages in Nigeria including, but not limited to pickups, deliveries and customs clearance of courier materials and bulky freight packages.
“This integration of FedEx (largest air express network in the world) and TNT (with its unparalleled European road network) will expand and reshape global transportation and logistics industry as well as go a long way to leverage investments in technology, infrastructure, facilities and operational capabilities for long term growth and success”.
The company also said “It will also expand logistics and support options for Nigerians locally and internationally”.
“Future developments will be communicated”.
This development might lead to massive job loss for TNT staff in Nigeria. The company has not commented on whether it will be cutting jobs.