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Correios (Brazil’s Postal Service) and Azul announce the execution of a non-binding Memorandum of Understanding for the creation of an integrated logistics solutions company
The new company will allow the expansion of logistics services and products to locations not yet attended, in addition to bringing more efficiency, cost reduction and revenue gain for both companies
Activities are expected to begin in the first half of 2018, after the approvals by the government authorities
S„o Paulo, December 20, 2017 - Azul and Correios (Brazil’s Postal Service) sign today a memorandum of understanding for the creation of a private integrated logistics solutions company with a new business model, to contribute significantly to Brazil’s growth.
The new company will have a 50.01% ownership stake of Azul and 49.99% of Correios, and will offer integrated logistics services for cargo transportation, willing to become the best logistics platform for e-commerce in the country.
With the existing demand already served by Azul and Correios, the new company will handle roughly 100 thousand tons of cargo per year. Both companies will have cost savings, operating efficiency and revenue gains, improving the service offer to the consumer.
Click here to access the document.