May 29 - Toll Group today celebrates its first official day as part of Japan Post, after a USD5.1 billion takeover deal was agreed.
Japan Post president and ceo Toru Takahashi, who is making a three-day visit to Australia, joined Toll Group managing director Brian Kruger at one of the company's Melbourne distribution centres to mark the occasion.
"We regard Toll as a great partner and teacher in the field of global logistics, especially in the areas of forwarding and contract logistics," said Takahashi. "By leveraging each other's strengths we aim to become a leading company in the very competitive global logistics industry."
Takahashi also announced the formation of a new board that will provide governance to Toll under Japan Post, which includes a combination of senior Japan Post executives as well as former Toll board members, Ray Horsburgh and Nicola Wakefield Evans. Horsburgh will act as chairman of the new board.
Kruger said that the strength of Toll's brand was reflected in Japan Post's desire to retain the Toll name and grow the business.