Mr. Bakker: TPG is a company based in the Netherlands. It has three divisions, Mail, Express and Logistics. Total, it's a euro 11.2 billion revenue company, almost equally split over the three divisions. The core of the company, and the start of the company, was the Dutch national postal operation. So in simple terms it is the US Post Office of the Netherlands. In 1996, that postal company acquired another company called TNT which had large operations in Express and Logistics. That was basically the start of what TPG is today. The postal company has the biggest part of its operation in the Netherlands. If you take almost any measure of quality, productivity or even profitability, it's probably the best postal company in Europe, if not in the world. It has produced about a 20% return on sales for the last, five, six, seven years already and the return continues to grow. We are now developing a strategy to set up postal activities in other countries in Europe, ahead of potential liberalization coming to that market. In Express, we are the market leader in certain time guaranteed express deliveries in Europe. We have a market share of about 26% to 27%. We are number one in Europe, with the second player in Europe being DHL. The Express network stretches now to 200 countries around the world. Further, it is the number three network in Asian. The third activity is Logistics, which we define as non-asset based supply chain management. We go to our customers and help them bylooking at their supply chain, redesign it, andmaking it more efficient. Then, by recommending improvements, we hope that they will outsource it to us so that we will actually manage and operate it for them. That is a business in which we do roughly $3.5 billion of revenue. Our strategy is to focus on different industries. Worldwide, we are the number one player in automotive logistics. In fast moving consumer goods and in hi-tech we are number two or three depending on how you measure it. Overall in size we are number two worldwide in logistics after Exel. So basically, that's the mix of three dynamic businesses. These businesses are very international. Roughly 80% of the revenue is in Europe and 20% in other parts of the world. In the USA, in particular, we expanded significantly about one and a half year ago after we acquired a company called CTI from CSX. CTI nowadays includes some activities we already owned and as an $800 million dollar US- based company is one of the leading logistics companies in the automotive industry in North America.
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