TNT Lojistik acquires Turkish logistics company
21 November 2001 - 16:26 CET
TNT Lojistik, the Turkish joint venture company of TPG and Koç, today has acquired a 100% stake in Cargotech, a leading Turkish company specialised in logistics management of fast moving consumer goods. The acquisition further strengthens TPG's position in the logistics management market in Turkey.
Murat Menemenli, TNT Lojistik General Manager, states: "We are pleased with the acquisition. It provides support for strengthening and expanding our position in the logistics management market in Turkey. Management will be retained."
Yaºar Büyükçetin, General Manager of Cargotech said "The acquisition is an important development for Turkey's logistics sector. Cargotech has gained local experience and relevant relationships but we can benefit from the international success of TNT Lojistik which is equipped with know-how and technology. The key objective of TNT Lojistik and Cargotech after the acquisition is to provide solutions and to create added value to reduce logistics costs of the companies."
