BIZCHINA / Overseas Investment
TNT buys stake in domestic road firm
(Shanghai Daily)
Updated: 2006-09-30 15:02
TNT NV, one of the world's l
BIZCHINA / Overseas Investment
Microsoft sets up gaming platform in Chengdu
(China Daily)
Updated: 2006-09-22 14:31
Microsoft Corp this week established its first game technology platform
in China, a move it hopes will help it carve a niche in the nation's
up-and-coming gaming industry.
The company will use the platform to develop video games for its XBox360
console, in an effort to add Chinese cultural characteristics to its
games. The platform, located in Chengdu, the capital of Southwest China's
Sichuan Province, will also provide training for local video game
developers.
(For more biz stories, please visit Industry Updates)
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eading express delivery companies, has signed
an equity transfer agreement in Shanghai to acquire Hoau Group, China's
biggest private road logistics supplier.
TNT will acquire Hoau's nationwide road transport and freight business
through the deal, TNT said in a statement on its Website yesterday.
The company didn't disclose the size of its stake in Hoau.
The signing of the agreement follows a letter of intent, announced in
December and a framework deal completed in February.
The parties expect to complete the transaction early next year, subject
to approval by the Chinese government, TNT said.
"The acquisition of Hoau offers TNT comprehensive road coverage in China
and is in line with TNT's strategic focus on integrated domestic and
international networks," the Dutch company said in the statement.
Hoau Group, based in China's northeast Heilongjiang Province, has more
than 1,100 depots and 56 hubs across China, the statement said.
TNT has sold its global logistics businesses to focus on the more
profitable mail and express delivery services.
Kenneth McCall, chief executive officer of TNT China, said in earlier
interviews that Hoau will be merged into TNT's express delivery after
three to five years of integration.
Following the acquisition, the number of employees in China will rise to
12,000 to 14,000 from the current 4,000 to 5,000, he said.
(For more biz stories, please visit Industry Updates)
Alibaba is the largest B2B marketplace in the world. Source model ship,
wooden puzzle, one-piece toilet, RC hovercraft, photo album, prom dress,
pocket bike, Vaginal Speculum, Samurai Sword, String Panty and PVC Pipe.
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