TPG sets Belgium hub expansion

TPG sets Belgium hub expansion

Dutch mail, express and logistics group TPG expects its TNT Express unit to invest 94 million euros ($113.5 million) over six years to expand its European air hub in Liege, Belgium, the firm said on Tuesday.

TNT Express said it would initially invest 36 million euros to expand capacity and upgrade facilities at its Liege hub in Belgium. The investment is part of a six-year program that will include another 58 million euros in investments and will create 245 new jobs by 2010.

"Our investment will improve transit times for our growing customer base and further increase the percentage of consignments delivered on time and in perfect condition," Christian Drenthen, Managing Director TNT Worldwide Networks, said in a statement.