DHL terminates partnership with Swedish Wilson Logistics
DHL, the express logistics subsidiary of German postal group Deutsche Post AG, has terminated its strategic partnership with the Danish unit of Swedish transport and logistics group Wilson Logistics Group, it was reported on February 2, 2005.
The move was attributed to the acquisition of Wilson Logistics by Dutch postal, express and logistics company TPG NV in the summer of 2004, DHL’s Danish division communications director, Pis Baagoe Skat-Roerdam, said.
Under the partnership, Wilson Logistics sold DHL’s courier services to its Danish customers at a special price. After the termination of the partnership, Wilson Logistics will have to buy DHL’s products at the traditional price.
TPG bought Wilson Logistics for some 20 bln Danish crowns ($3.516 bln/2.688 bln euro) from Swedish venture capital company Nordic Capitaland. TPG plans to bid for part of the shares in Danish national post office Post Danmark, which is to be privatised. Also Deutsche Post announced its intention to bid for shares of post Danmark.
TPG ( www.tpg.nl ) operates worldwide under its brand names TNT and Royal TPG Post. The company has over 162,000 employees in 64 countries. TPG is listed on the stock exchanges in Amsterdam, New York, London and Frankfurt.
[Editor’s note: TPG posted a net profit of 188 mln euro ($245.9 mln) for the second quarter of 2004 compared to 143 mln euro ($187.1 mln) for the same period of 2003. Wilson Logistics generated a turnover of some 714 mln euro ($934.1 mln) for 2003 with a staff of more than 2,000 employees. The company operates in 28 countries.]
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Source: Berlingske Tidende
