TNT, Pos sign business deal

TNT, Pos sign business deal

SINGAPORE (AP): TNT, a unit of the Dutch postal services
company TNT Post Groep NV, launched a pact Monday with PT Pos
Indonesia to cooperate in express and international mail
services.

The memorandum of understanding will strengthen TNT's position
in the Indonesian market and expand PT Pos Indonesia's global
reach, TNT's Singapore-based Asia regional office said in a
statement.

TNT did not say how much money was invested in the deal.

TNT is a subsidiary of the Amsterdam-based TNT Post Groep,
which had worldwide sales of 8.5 million euros (US$ 8.2 million)
in 1999, the statement said.

Last March, the TNT Post Groep announced a joint venture with
British Mail and Singapore Post to handle international mail.

PT Pos Indonesia's international express mail service
currently serves 52 countries through overseas postal offices.