TNT acquires LIT Cargo of Chile
TNT has announced the acquisition of 100 per cent of LIT Cargo, a leading express delivery company in Chile. The acquisition gives TNT a strong nationwide road network in Chile and strengthens its position in the country’s domestic express delivery market. It also adds a key building block to the development of its South American […]
March 1, 2009
It also adds a key building block to the development of its South American Road Network (SARN), linking Chile to Brazil and Argentina. The global express and logistics company said the acquisition fits its strategy, “to become the intra-regional express leader in South America and to leverage this regional strength to grow intercontinental flows.”
Created in 1952, LIT Cargo operates a nationwide, highly automated express parcel network, comprising of 55 depots and 496 vehicles. LIT Cargo’s compound annual revenue growth of 25 per cent over the past three years has outpaced that of the Chilean market. The company serves several key vertical markets, including automotive, pharmaceuticals and high tech.