TNT, Tigaraksa tie up

TNT, Tigaraksa tie up

JAKARTA (JP): TNT Logistics Asia Pte. Limited and PT Tigaraksa
Satria agreed here yesterday to establish a joint venture firm to
provide logistic services in Indonesia.

David Mortimer, the managing director and chief executive
officer of TNT Limited, said that the joint venture, which will
be named PT TNT Logistic Indonesia, will provide logistic
services to domestic and multi-national firms in the country.

The establishment of the joint venture is a major part of
TNT's development plans in South East Asia, he said following the
signing of the joint venture agreement.

Tigaraksa, a distribution company listed on the Jakarta Stock
Exchange, also agreed to assign the warehousing operations to the
planned joint venture under a contract agreement.

TNT Logistic Asia Pte. Limited is a wholly owned subsidiary of
TNT Limited, the Australian based Worldwide Transportation and
Logistics group.(hen)