Deutsche Post chairman expects profts in US in 2005
Klaus Zumwinkel said he expects the company’s U.S. operations to begin turning a profit in 2005. During a meeting with The Wall Street Journal and Dow Jones Newswires, Zumwinkel said the German mail and parcel company doesn’t have to boost its market share any further in the U.S. to turn a profit. Deutsche Post has about 6percent of the USD47 billion a year U.S. package-delivery market, most of that coming as a result of the company’s takeover of Airborne Inc., according to The Wall Street Journal. U.S. rivals FedEx Corp and United Parcel Service Inc control around 75percent of the U.S. market.
