Following the acquisition of TNT N.V by FedEx Corp in May 2016, all services being offered by TNT in Nigeria have been officially transferred to Red Star Express, the licensee of FedEx in the country. This has also been approved by the management of TNT (Bahrain) E.C effective from October 6, 2016, after assessment of TNT’s existing operations and future market requirements.
FedEx, the world largest air network acquired TNT with its unparalleled European road network in a deal worth $4.8b. According to Sola Obabori, CEO Red Star Express, the acquisition has provided a bigger platform that will boost the logistics industry because the TNT team members bring 70 years of diverse experience, which, combined with that of FedEx team members, will make the acquisition a success story.
Already, the TNT sales, operational and technological systems integration with that of Red Star Express have been concluded and this has allowed TNT clients in the country to continue to enjoy TNT's high valued delivery services and at the same time benefit from Red Star Express' partnership with FedEx that has lasted over 20 years.
Obabori stated that the integration of FedEx and TNT will expand and reshape the 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.
"Red Star Express is authorised to handle all TNT inbound and outbound packages in Nigeria including, but not limited to pick-ups, deliveries and customs clearance of courier materials and bulky freight shipments", he said. “We remain committed to providing you with the same excellent service and minimizing any potential impact during the transition period”.
Red Star Express is the leading courier and logistics solution provider in Nigeria with unrivaled local network coverage and a large market share in the domestic and international market.
It enjoys a domestic strength of over 240 offices in Nigeria, delivers to more than 1,800 communities, with over 2,400 highly trained personnel and over 600 delivery vehicles in its fleet. The company has four business units including the Red Star Express which is a licensee of FedEx, the world's largest express transportation company. There is the Red Star Freight, Red Star Logistics and Red Star Support Services.