Press Release

China Post and TPG join forces in strategic partnership

Publish Date : 25 April 2003 at 10:31 CET - The State Post Bureau of China (China Post) and mail, express and logistics company TPG N.V. have today announced the signing of a Memorandum of Understanding (MOU), that will provide the foundation for a broad strategic partnership.

This builds upon the successful partnership between China Post and TPG in the express business in China, that was entered into in 2000.

Mr. Liu Liqing, Post Master General of China Post, led his delegation during a recent visit to the head office of TPG in the Netherlands, upon invitation of Mr. Peter Bakker, CEO of TPG. Following the visit, Mr. Liu Liqing and Mr. Peter Bakker signed a MOU, that included an agreement to set up immediately a task force to explore potential areas of mutually beneficial co-operation in the areas of mail, express and logistics.

With a background of successful past co-operation between China Post and TPG, the two companies have laid solid foundations to expand their co-operation and to build closer ties, as well as to initiate joint efforts in exploring global markets. By benefiting from synergies and mutual strengths, China Post and TPG will be able to further improve both parties' services to their Chinese and global clients.

Mr. Peter Bakker, CEO of TPG, is delighted to announce the strategic partnership with China Post: "This is a very significant step in our international strategy. China is likely to be the most important growth market in the world in the near future. Between China Post and TPG we will have the ideal mix of expertise to benefit from this growth and offer consumers and businesses in China excellent services. We can also jointly explore other areas of international growth together."

Page publication date: 25 April 2003 at 10:31 CET